HSBC, Vitol Flag Oil Super-Squeeze Risks as Inventories Near Critical Lows

Oil markets remain anchored near $95 per barrel as fresh warnings from HSBC and Vitol highlight a deepening physical squeeze. Global stocks have fallen more than 250 million barrels since March after the Strait of Hormuz closure removed roughly 14 million bpd of Middle East supply. The IEA now sees inventories hitting historical lows ahead of the summer demand peak, while Trafigura calls the market an inflection point. Offsetting views from Goldman Sachs on 4-5 million bpd demand destruction and DBS on surging supply have so far capped price gains despite the tightening backdrop.