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Hormuz shutdown deepens oil crisis; IEA warns of record inventory drop, demand plunge - The Economic Times
Global oil stocks are depleting rapidly. The Iran war is worsening supply disruptions. This situation will continue for months. The market faces a severe shortage until October. Oil prices are under pressure. Demand is also falling sharply. This is the steepest drop since the Covid pandemic. Some signs suggest the drawdown may be slowing.
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