JPMorgan: world crude stocks to hit 6.8bn-barrel operational floor this month if Hormuz stays closed

JPMorgan expects global crude oil inventories to reach their 6.8 billion-barrel operational floor this month if the Strait of Hormuz remains closed, according to a desk report. Below that level, pipelines cannot maintain pressure and refineries would fail regardless of price.

Detected & updated continuously · Source: Nebula