Brent Crude Surges Past $100 as Global Energy Buffers Collapse

Brent crude prices have breached the $100-per-barrel threshold for the first time since May, signaling a new phase in global energy markets.

The market's three critical shock absorbers, inventory releases, alternative shipping routes, and production increases from non-Gulf nations, have been systematically dismantled.

US refineries are running at 96% capacity to fill the fuel gap, but have virtually no spare capacity to handle disruptions. The US Strategic Petroleum Reserve has fallen to its lowest level since 1983, while alternative routes through the Red Sea and Gulf of Oman face blockades by Houthi forces and Iran.

The global supply deficit is now static at 5.5 million to 6 million barrels per day, with analysts warning that US refineries are facing extreme stress and can only temporarily relieve pressure.