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14.04.26 - 21:36
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Global Oil Demand Growth Completely Wiped Out By Gulf Energy Shock (ZeroHedge)
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Global Oil Demand Growth Completely Wiped Out By Gulf Energy Shock
The global demand destruction playbook we outlined last month, describing how the Gulf energy shock would spread across continents, is now materializing on a large scale. The International Energy Agency said in a Tuesday update that global oil demand will decline this year for the first time since 2020.
"The Iran war has thoroughly upended the global outlook for oil consumption," the IEA wrote in its Oil Market Report. "Demand destruction will spread as scarcity and higher prices persist."
The IEA said the US-Iran conflict and the disruption of the Hormuz chokepoint have flipped the global oil market from a growth year to one of demand destruction, with world oil demand now expected to decline by 80,000 barrels per day rather than expand by 730,000 bpd as previously forecast.
Tanker flows through the world's most critical waterway collapsed to around 3.8 million bpd in early April, down from more than 20 ...
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14.04.26 - 17:06
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Analyst Warns That Oil Prices Threaten Banks (Bloomberg)
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JP Morgan's earnings look strong, but the real story is beneath the surface says Baird Senior Research Analyst David George. He joined Bloomberg Open Interest to break down why net interest income fears are overblown, why trading gains won't last, and the one macro risk investors should actually watch: rising oil prices and the ripple effect on consumers and corporate margins. (Source: Bloomberg)...
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