A pumpjack stands idle, in Huntington Beach, Calif., on April 23, 2026. Mario Tama/Getty ImagesGlobal oil reserves plunged at a record rate in April, as the ongoing Iran war and ensuing closure of the Strait of Hormuz strained supplies, according to estimates by S&P Global Energy reported on May 6.Stockpiles of crude fell by nearly 200 million barrels, or 6.6 million barrels per day, even as higher prices triggered a collapse in demand of about 5 million barrels per day, marking the sharpest ever fall outside of the COVID-19 pandemic, according to estimates by the commodities giant that were published by Hellenic Shipping News.
9.8
C
Ottawa
Wednesday, May 6, 2026
The Alliance Press is the world leader in online chained news and information and seeks to inform, engage and empower the world. We expose the information that wasn't known before or current events broadcast over the radio, television, online or in print media. Our content is now available through your mobile phone. No matter where your on-the-go lifestyle takes you, TAP brings the news directly to you.
More from CN
Contact
© The Alliance Media Group design by CODEUS