Hormuz Disruptions Cut Middle East Oil Output 11M BPD May

News Image
Read full story

Published: 1 hour ago

EIA reports Strait of Hormuz disruptions forced Middle East oil producers to slash output by over 11 million barrels per day in May compared to pre-war levels. This represents a massive supply shock to global energy markets. Oil-linked currencies including CAD, NOK, and RUB face pressure from supply concerns. USD may strengthen as safe haven while energy importers like JPY could weaken further on inflation fears.

Nothing to see yet 😢