world-economy

Global Strategic Reserves Face Depletion as Middle East Tensions Persist

More than 100 days into the third Gulf war, the world's strategic petroleum reserves are depleting rapidly despite muted market reactions to escalating regional conflict. On June 8th, renewed military strikes between Iran and Israel threatened a fragile two-month ceasefire. Brent crude rose just 1% on the news. By early June 11th, the international benchmark traded near $93 per barrel, down more than $30 from April's intraday peak. Strategic reserves cannot indefinitely buffer markets against geopolitical shocks. As reserves shrink, future price volatility becomes increasingly likely should conflict intensify or supply routes face further disruption.