The International Energy Agency calls for urgent reopening of the strait of Homuz amid ongoing pressure on global oil supplies The International Energy Agency has warned oil stockpiles are rapidly depleting, increasing the urgency around reopening the strait of Hormuz. The IEA explained in a new report that observed stocks had fallen below 7.9 billion barrels for the first time since April 2025: Although the market is projected to return to surplus towards the end of this year, risks remain subs
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