ABC News & Headlines – Australian Broadcasting Corporation·4 min read·medium
Oil reserves eased Iran war price shock, but now they are 'spent', IMF says
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Ahmed Yussuf✦AI Summary
The IMF warns that global oil reserves, which previously helped mitigate price shocks from the Strait of Hormuz closure, are now largely depleted. Experts suggest that global oil prices are likely to rise as supply buffers shrink and market volatility persists.
The oil price has increased by more than 10 per cent since the most recent closure of the Strait of Hormuz. ( AP )
economyworldenvironment
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