IEA Warns Oil Inventories Are Falling Rapidly as Iran War Shuts Strait of Hormuz

by Emmitt Barry, Worthy News Washington D.C. Bureau Chief(Worthy News) – The world’s backup oil supply is shrinking fast as the Iran war and the closure of the Strait of Hormuz disrupt global shipping, International Energy Agency chief Fatih Birol warned Monday.Birol said commercial oil stockpiles may last only “several weeks” if the crisis continues. He said emergency oil reserves have helped add supply to the market, but warned those reserves will not last forever.The warning comes as fu