IEA Chief Birol says oil markets could enter a red zone in July-August as stocks deplete and summer demand returns

Newsquawk StaffPublished 21 May 2026, 11:33 UTCOn the live feed at 11:13 UTC — 5 more headlines followed before this page went public

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11:22

Since last night, 30 ship owners and captains have been coordinating with the IRGC Navy to pass through the Strait of Hormuz.

11:20

UK Chancellor Reeves stands ready to act if market conditions worsen later this year

11:13

IEA Chief Birol says oil markets could enter a red zone in July-August as stocks deplete and summer demand returns

11:11

BofA expects BoE to hike interest rates by 25bps in July and September (prev. June and July)

11:06

Microsoft (MSFT) says organisations are jointly investing USD 1bln+ in a new initiative to accelerate enterprise AI transformation

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His hope is that the Strait of Hormuz will open fully and unconditionally.
Will take a lot time for Middle East oil production and refining to return to February 27th levels.

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