Diesel, petrol, oil price watch

[seafoid]

https://www.ft.com/content/b26ba4ce-4324-4ea9-926d-caf036f20832?syn-25a6b1a6=1

 The oil market is four weeks away from a "tipping point" that will drive prices significantly higher, traders have warned, as the blockade in the Strait of Hormuz reduces global stockpiles below critical levels. Markets are beginning to price in the chances of a much longer conflict, after President Donald Trump told oil company executives on Thursday that the blockade of the Strait of Hormuz could "continue for months". Traders and analysts warned that global stocks of crude, gasoline, diesel and jet fuel will hit critically low levels by the end of May, at which point prices will escalate rapidly.

[seafoid]

https://www.telegraph.co.uk/business/2026/05/18/uk-gilts-bonds-borrowing-inflation-starmer-burnham-ftse-1000/
The world's oil stockpiles are "depleting very fast", the head of the International Energy Agency has warned.

Fatih Birol, executive director of the Paris-based agency, said commercial reserves were being rapidly drained as oil and gas shipments from the Middle East continue to be blocked by the war in Iran.

Speaking at a meeting of G7 finance ministers in Paris, Mr Birol warned there were only "several weeks" left of stored supplies at current rates of depletion.

"I think it is depleting very fast," he said. "We should be aware of the fact that it is declining rapidly."