मैगज़्टर गोल्ड के साथ असीमित हो जाओ
10,000 से अधिक पत्रिकाओं, समाचार पत्रों और प्रीमियम कहानियों तक असीमित पहुंच प्राप्त करें सिर्फ
कोशिश गोल्ड - मुक्त
Post-ceasefire glut: The world is awash in crude oil right now
Mint Kolkata
|June 26, 2025
West Asia remains tense but the world has more oil than it requires
After the war, the hangover. While hysteria about the closure of the Strait of Hormuz gripped the oil market for the last few days, the reality could not be more different: a wave of Gulf crude oil was forming. Now, the swell is heading into a global oil market that's already oversupplied—hence Brent crude was trading below $70 a barrel on Tuesday [after US President Donald Trump announced a surprise ceasefire between Israel and Iran].
The Northern hemisphere summer, which provides a seasonal lift to demand, is the last obstacle before the glut becomes plainly obvious. Oil prices are heading down—quite a lot.
If anything, the Israel-Iran '12-Day War' has worsened the supply-versus-demand imbalance even further—not just for the rest of 2025, but perhaps into 2026 too.
On the demand side, geopolitical chaos is bad for business—let alone tourism. Petroleum consumption growth, already quite anaemic, is set to slow further, particularly in West Asia. But the biggest change comes from the supply side: The market finds itself swimming in oil.
यह कहानी Mint Kolkata के June 26, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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