05-May-2026
Economy News
 
Goldman Says Global Oil Stocks Approaching Eight-Year Low, Depletion Speed a Concern
05-May-2026

Global oil ?stocks ?are approaching their lowest ?level in eight years, Goldman Sachs ?said on Monday, warning that the speed of ?depletion was becoming a ?concern as supplies through the Strait ?of ?Hormuz remained restricted. Oil prices jumped about 6% on ?Monday after Iran hit several ships in the Strait of Hormuz and set a UAE oil ?port ablaze, as President Donald Trump's attempt to ?use the ?U.S. Navy to ?free ?up shipping provoked the biggest escalation since a ceasefire ?was declared ?four weeks ago.

News Source:- https://money.usnews.com/investing/news/articles/2026-05-04/goldman-says-global-oil-stocks-approaching-eight-year-low-depletion-speed-a-concern
 
 
 

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