US-Israel-Iran War Latest Live News: On October 12, 2026, Saudi Aramco President and CEO Amin Nasser reiterated that the global crude oil market squeeze remains serious, warning that pressures across the energy supply chain will continue to intensify until the Strait of Hormuz is fully reopened and market confidence is restored. Speaking at the WPC Energy Congress following similar stark warnings at the Energy Intelligence Forum in London, Nasser highlighted a critical depletion of the world’s energy buffers.
US-Israel-Iran War Latest Live News: Concerns on Global Energy Markets
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Depleted Global Stockpiles: The global supply cushion is “scarily thin”, with significant drawdowns from inventories and major gross supply losses from an initial starting point of nearly 10 billion barrels.
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Buffer Limits: Commercial onshore reserves have dropped significantly, with only a fraction practically available due to operational constraints.
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Recovery Timeline: Restoring inventories while meeting ongoing demand could require up to two years after normalization.
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Refined Fuel Pressures: Refined product prices face intense upward pressure independent of crude constraints, and emergency releases offer only temporary relief.
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