International Energy Agency head Fatih Birol warned that commercial oil inventories are rapidly depleting, with only a few weeks of supply remaining due to the Iran war and Strait of Hormuz closure. Strategic reserve releases have provided temporary relief, but demand is increasing with seasonal shifts. The agency previously forecast a surplus but now anticipates a significant shortfall this year.
I sincerely hope US reserves are in fact depleted as we’re (US) the ones who caused the havoc in the first place for so many other countries. Then everyone will hopefully truly start to see Trump a the bad guy instead of somehow always coming to his defense.
My guess is, by the time reserves are days away from empty, a resolution will "magically " be reached just in time to make him look like the hero. It’s putting billions in the pockets of big oil companies (aka his acquaintances) who bailed him out of going to jail.
“A broad cross-section of major corporations and industry players publicly backed Donald Trump’s 2024 campaign and the Trump Vance inaugural committee in 2024–2025, with reported donors spanning Big Tech, crypto firms, oil and gas, finance and automotive companies [1] [2] [3].”
https://factually.co/fact-checks/politics/companies-donated-to-donald-trump-campaigns-inaugural-committee-2024-2026-076f58
The thing is that even if the war ended tomorrow, it’s going to be years before production ramps back up to prewar levels. So, the damage is already done. The only question now is how bad it gets.
How long until we get a battery powered cargo ship delivering solar panels?
Cargo ships with giant sails
Too long