Global Oil Inventory Falls to Record Lows as U.S. Crude Hits Multi-Year Highs

GateNews
According to Zhongxin Securities research released on May 20, global oil inventory has fallen to record lows amid the U.S.-Israel-Iran conflict disrupting traffic through the Strait of Hormuz. U.S. refined product prices reached multi-year highs, while energy-importing regions across Asia face potential shortages. The market is relying on prior surplus inventory, exemptions from Russian oil sanctions, and strategic petroleum releases from multiple nations to buffer pressure.
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