ADNOC CEO Sultan Al Jaber reported that global oil inventories have fallen by nearly 1 billion barrels since shipping through the Strait of Hormuz was disrupted. Additional energy market developments include:
* Regional Diesel Stocks: Diesel inventories in certain regions have reached a 35-year seasonal low.
* Logistics Costs: Transportation and logistics expenses have surged, now accounting for up to 30% of each barrel's total cost.
* Commodity Price Movements:
* WTI Crude ($CL ): Down 2.96%.
* Brent Crude ($BZ): Down 2.95%.
* Natural Gas ($NATGAS): Up 1.84%.
For energy traders, commodity analysts, and macroeconomic participants, monitoring shipping chokepoints and inventory depletion is essential for evaluating inflation risks and supply chain volatility.
$CL $BZ $NATGAS #CoinVahini #EnergyMarket #OilSupply #StraitOfHormuz #Commodities
* Regional Diesel Stocks: Diesel inventories in certain regions have reached a 35-year seasonal low.
* Logistics Costs: Transportation and logistics expenses have surged, now accounting for up to 30% of each barrel's total cost.
* Commodity Price Movements:
* WTI Crude ($CL ): Down 2.96%.
* Brent Crude ($BZ): Down 2.95%.
* Natural Gas ($NATGAS): Up 1.84%.
For energy traders, commodity analysts, and macroeconomic participants, monitoring shipping chokepoints and inventory depletion is essential for evaluating inflation risks and supply chain volatility.
$CL $BZ $NATGAS #CoinVahini #EnergyMarket #OilSupply #StraitOfHormuz #Commodities