FT: Global oil reserves decreased by a record 200 million barrels in April

The war between the United States and Israel against Iran has led to the fact that world oil reserves in the second month of spring decreased by a record 200 million barrels since the coronavirus pandemic. This was reported on May 6 by the Financial Times (FT) newspaper.

"According to S&P Global Energy estimates, crude oil inventories decreased by almost 200 million barrels, or 6.6 million barrels per day, despite the fact that rising prices triggered a collapse in demand of about 5 million barrels per day — the sharpest drop in history, with the exception of the COVID-19 pandemic," — it is said in the publication.

The authors of the article added that due to the Middle East conflict and the closure of the Strait of Hormuz, the oil market did not receive a billion barrels of oil. According to traders, the situation is approaching a critical point. According to analysts, oil prices will continue to rise for some time.

Sales preparation: oil prices may rise to $140 per barrel

The US refusal to extend the license for the sale of raw materials from Russia and Iran will support the high cost of fuel

As of May 4, oil prices accelerated their growth amid reports from the UAE Ministry of Defense about intercepted Iranian missiles. At 19:58 Moscow time, the price of July futures for Brent crude oil rose to $115 per barrel. Compared to the previous close, the change was 8.48%.