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Top 2 international energy agency News Today

#1
Oil stocks drain at record pace as IEA warns of renewed price swings
#1 out of 216.67%
business2h ago

Oil stocks drain at record pace as IEA warns of renewed price swings

https://www.euronews.com/business/2026/05/13/oil-stocks-drain-at-record-pace-as-iea-warns-of-renewed-price-swings
Euronews.com
  • IEA warns the oil market may stay in deficit until year-end due to Hormuz disruptions and tightening supplies.
  • Global oil inventories fell sharply in March and April, signaling an unprecedented supply shock.
  • Countries rerouted exports and shifted shipments to cushion markets amid Gulf tensions.
  • Oil demand is expected to fall, with 2026 consumption cut by 420,000 barrels per day.
  • Demand declines and high fuel prices further curb consumption and refine runs.
  • IEA sees potential demand recovery later if Hormuz flows resume in 3Q26.
  • IEA expects market volatility to persist ahead of peak summer demand.
  • Saudi Arabia and UAE reroute exports; US and others boost shipments to Asia.
  • The IEA has drawn emergency reserves to support markets this year.
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#2
Iran war: Oil stocks being used up at record pace, IEA warns
#2 out of 2
world22h ago

Iran war: Oil stocks being used up at record pace, IEA warns

https://www.dw.com/en/iran-war-oil-stocks-being-used-up-at-record-pace-iea-warns/live-77141937
Dw.com
  • IEA says global oil inventories are being drawn at a record pace due to supply disruptions in the Middle East.
  • Iran’s continued closure of the Strait of Hormuz is cited as a key factor pushing prices higher.
  • The IEA plans emergency stock releases totaling 400 million barrels to stabilize markets.
  • The IEA noted continued disruption may lead to price volatility ahead of peak summer demand.
  • Iran claims Hormuz control could double its oil revenues and boost influence.
  • Gulf oil shipments face constraints as Iran expands control areas of Hormuz, per Iranian officials.
  • Germany says there are no shortages of oil, gas, or kerosene despite higher prices from Hormuz disruption.
  • Analysts warn that buffer depletion and sanctions could sustain market pressure into summer.
  • DW coverage links the oil market stress to broader geopolitical dynamics in the Iran war.
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