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Global Energy Markets Tighten as Supply Disruptions Persist

Crude oil inventories are declining at record rates amid geopolitical tensions, with global supply falling 1.8 million barrels per day in April. Indian refiners are accelerating purchases of Russian crude ahead of waiver expirations while diversifying supplier relationships to hedge against supply volatility. The energy shock has created divergent market reactions. U.S. equities reached all-time highs as labor market strength signaled economic resilience despite elevated oil prices. Japanese stocks similarly surged, led by technology sector gains and optimism about potential diplomatic resolutions to regional conflicts. Emerging market assets experienced broad-based selloffs, creating significant pressure on currency markets. Oil market analysts caution that price pressures remain elevated, with supply constraints likely to persist through the second quarter. Market participants are closely monitoring inventory levels and geopolitical developments.