Strategist Jeff Currie warns inventories at 102 million barrels risk depletion before peak driving season demand.
US oil inventories have fallen to approximately 102 million barrels, nearing minimum operational levels as demand outpaces supply. The decline from 120 million barrels in recent weeks signals a widening supply deficit ahead of the summer driving season.
Analysts highlight that even if the remaining buffer of around 100 million barrels were fully accessible, stocks could still deplete before or during peak demand. The current deficit, where demand exceeds supply, risks transitioning into an acute shortage.
The warning underscores tightening market conditions, with potential implications for prices as inventory levels approach critical lows.