Vitol's Hardy says the Middle East conflict has resulted in the loss of around 12mln BPD of production since the start of the conflict, FT reports; the market set to lose a minimum of 1bln barrels even if the conflict ends tomorrow

The reported loss of approximately 12 million barrels per day (BPD) of production due to the Middle East conflict signals a significant supply shock in the oil market.

Newsquawk StaffPublished 21 Apr 2026, 14:45 UTCOn the live feed at 14:25 UTC — 6 more headlines followed before this page went public

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14:25

Vitol's Hardy says the Middle East conflict has resulted in the loss of around 12mln BPD of production since the start of the conflict, FT reports; the market set to lose a minimum of 1bln barrels even if the conflict ends tomorrow

14:22

US Lawmakers have reportedly sent a letter to Jetblue (JBLU) asking if personal data was used to set prices, according to reports

14:21

IRGC spokesperson Nik says "We must bring the enemy to complete surrender in all fields, including the battlefield, the diplomatic field, and the streets.", Nour news reports

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Context

Even in a hypothetical scenario where the conflict ceases immediately, the anticipated loss of at least 1 billion barrels indicates a prolonged impact on supply, likely bolstering prices and heightening market volatility. Traders should be prepared for potential upside pressure on oil prices and implications for related markets, including currencies and inflation expectations.

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