SENSEX
NIFTY
GOLD
USD/INR

Weather

image 42    C

Economy News

The Economic Times

Economy / The Economic Times

details

Iran war rapidly wiping out the worlds oil stockpile cushion

Global oil stockpiles are shrinking at a record pace this month, with visible crude and fuel inventories falling by 8.7 million barrels daily. This sharp drawdown reflects severe supply disruptions tied to the Middle East conflict, leading to a tightening market and concerns about future availability.

21 May 2026 11:52 am