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Oil traders warn market is close to running on empty as Hormuz shuts again
Oil traders warn that the market is nearing depletion as the Hormuz waterway closes again, with stockpiles that served as shock absorbers during the early Iran war now running low.
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Adjacent reporting
- Hormuz tanker traffic falls to lowest level in two months
- As Hormuz opens, oil markets are awash in supply
- Global oil stockpiles could hit record lows if Strait of Hormuz remains closed
- Shell CEO says oil market is short nearly 1 billion barrels due to Iran war and the hole deepens every day
- Oil Market Liquidity Dries Up as Traders Sit Out War Volatility
- Iran’s Floating Oil Stockpile Swells as Major Buyers Stay Away