Goldman Sachs warns that global oil stocks are nearing their lowest levels in eight years, with supplies through the Strait of Hormuz restricted and prices spiking by 6% following recent attacks, as total oil stocks could decrease from 101 to 98 days of global demand by the end of May amidst concerns over rapid depletion and supply losses. #OilMarket #GlobalEconomy #EnergySupply #IR #AE #US

Goldman Sachs warned that global oil stocks are nearing their lowest level in eight years, with estimates predicting a drop from 101 to 98 days of supply by the end of May, exacerbated by escalating tensions in the Strait of Hormuz following attacks on ships and a UAE oil port, which led to a 6% surge in oil prices. #OilMarket #GlobalEconomy #EnergySupply #IR #AE #US