Oil Reserves Dangerously Low; ‘Much Higher’ Fuel Prices By Winter | Josh Young

Oil and diesel prices remain elevated despite reports of normalizing tanker traffic in the Strait of Hormuz, as mainstream data often misrepresents temporary convoy surges as sustained supply. Ongoing conflict continues to threaten tanker safety, creating a disconnect between reported traffic and actual market stability. While G7 countries have released diesel reserves to address record-high prices and supply shortages, the market remains vulnerable to further volatility. Refiners are currently operating at near-maximum capacity to replenish depleted inventories, a trend likely to cause further crude oil depletion and potential price spikes heading into winter. Josh Young, founder and CIO of Bison Interests, highlights that the geopolitical situation in Iran and the frequency of attacks on energy infrastructure remain the primary drivers of market uncertainty, effectively overshadowing temporary relief measures.