US-Iran war threatens global oil supplies as emergency reserves shrink
The U.S.-Iran war has triggered the largest cumulative oil supply disruption since the 1979 Iranian revolution, with an estimated 2.6 billion barrels of oil lost. Global reserves are under growing pressure, while diesel and jet fuel supplies remain weak. The U.S. Strategic Petroleum Reserve is at its lowest level since 1983, while China holds a significantly larger oil buffer.
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