US-Iran Conflict Sparks Largest Oil Supply Disruption Since Iranian Revolution

The US-Iran conflict has led to the largest cumulative oil supply disruption since the Iranian revolution in 1979, resulting in an estimated loss of 2.6 billion barrels of oil.

Global oil reserves are under increasing pressure as the situation unfolds, with diesel and jet fuel supplies remaining weak.

The US Strategic Petroleum Reserve is at its lowest level since 1983, while China holds a significantly larger oil buffer.