Oil Market on the Brink: A Perfect Storm of Shortages and Supply Chain Disruptions The global oil market is careening towards a perfect storm, with Asia already at minimum operating levels and Europe likely to follow suit within weeks.
Jeff Currie, chief strategy officer for energy pathways at Carlyle, painted a dire picture of the situation on Monday, warning that the US may face shortages by July unless drastic action is taken.
The crisis is rooted in the Iran war, which has disrupted shipping through the Strait of Hormuz and curbed energy exports from the Middle East.