Chevron CEO Says July August Critical for Oil Inventories

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Published: 32 minutes ago

Chevron CEO Mike Wirth highlighted July and August as critical months for oil inventories amid ongoing war in Iran. The company refuses to pay tolls for Strait of Hormuz transit, raising supply concerns. Oil supply disruptions typically strengthen USD through higher energy costs and safe-haven demand. CAD and NOK may also benefit from higher crude prices while oil-importing currencies face pressure.

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