# Oil Markets in Crisis: Prices Soaring, Inventories Draining

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Text version: https://stenobird.com/podcast/durham-news-today-2-min-news-the-daily-news-now-7569659/oil-markets-in-crisis-prices-soaring-inventories-draining.md
Podcast: [Durham News Today | 2 Min News | The Daily News Now!](https://stenobird.com/podcast/durham-news-today-2-min-news-the-daily-news-now-7569659)
Published: 2026-05-13T20:22:35+00:00
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Duration seconds: 129

## Resource

Global oil markets are experiencing unprecedented disruptions, with supply shortages reaching fourteen percent of world demand and inventories draining at a rapid pace. Despite this, Brent crude prices have not skyrocketed, raising concerns among analysts. JPMorgan predicts a significant increase in prices, potentially reaching one hundred fifty dollars per barrel, if the Strait of Hormuz remains closed. The closure has left the market short by two million barrels per day, causing a surge in gasoline prices and straining airlines and shipping firms. Households are also feeling the impact, with reduced spending and potential currency crashes in emerging markets. The situations duration will determine the inflation path, with the Fed potentially pausing rate cuts until 2027. Diplomacy is the wildcard, with Trumps meeting with Xi in Beijing offering a potential solution. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/42d937dbda3b150d

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