Global Oil Stocks Hit Record Lows Amid Rising Conflict

Global oil inventories are at their lowest levels in decades. This scenario worries analysts as attacks on tankers in the Strait of Hormuz escalate alongside the diplomatic standoff between the United States and Iran.

Brent crude prices recently climbed, nearing peaks seen over the last five months. Iran's Revolutionary Guard reported incidents involving vessels in the region, while Washington questions the accuracy of some claims regarding attacks on ships.

The situation is worsened by instability in the Bab al-Mandeb Strait near Yemen. Houthi control of this route threatens access to the Suez Canal and increases the risk of disruptions to the global energy flow.

Since hostilities began in February, members of the International Energy Agency have released hundreds of millions of barrels from strategic reserves. U.S. stockpiles have fallen to 283 million barrels, the lowest volume recorded since 1982.

Experts estimate that the world would have enough supplies for only one or two months if critical shipping lanes are completely blocked. The shortage of reserves puts pressure on the stability of the global fuel supply.