SMH
·general
·1 hour ago
Energy crisis escalates as crude supply dwindles and prices soar
The energy crisis intensified as the global crude oil supply dwindled, with Asia's stocks falling by 11 percent since early April. Refineries reduced output by over 3 million barrels per day amid soaring fuel prices, with petrol nearing $120 a barrel. Without a resolution in the Strait of Hormuz, significant further disruption is imminent.
Summary by Glance · SMH
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