…forcing prices to shoot higher
Excerpt from CNBC:
“We’re approaching unheard of inventory levels,” said Exxon Senior Vice President Neil Chapman at a conference hosted by Bernstein in New York.
“I mean really, really low levels,” Chapman warned. “You can debate whether that’s going to hit, those really low levels, in two weeks or three weeks. Once you get to that point, then you’ll see price shoot up.”
…The IEA [International Energy Agency] warned earlier this month that inventories are being depleted at a record pace.
Well, let’s look at that article, also from CNBC:
Oil price spike turmoil far from over
Excerpt:
“More than ten weeks after the war in the Middle East began, mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace,” the IEA wrote.
…“The petrochemical and aviation sectors are currently most affected, but higher prices, a weaker economic environment and demand-saving measures will increasingly impact fuel use.
…“That this is the largest oil supply disruption in the history of the oil market is neither an exaggeration nor controversial,” Martijn Rats, commodities strategist at Morgan Stanley, told clients in a Monday note.
Don’t believe the propaganda that there is no oil problem in America, you are being lied to! Continue to prepare for general inflation and supply disruption. That means: STOCK UP NOW.