Global Pre-War Oil Stockpiles Nearing Depletion, Market Volatility Expected

Global oil stockpiles built before recent geopolitical conflicts are approaching critical depletion levels. When these reserves are exhausted, markets face potential supply disruptions and price volatility. Oil-sensitive currencies including CAD, NOK, and RUB could experience significant moves as energy prices fluctuate. Commodity-linked pairs may see increased volatility as traders position for potential supply shocks and inflationary pressures.