Red Sea Disruptions Push OECD Crude Inventories Lower

1. Red Sea Disruptions Shrink OECD Crude Inventories Further - The price squeeze in the Atlantic Basin market has mostly stemmed from longer and costlier voyages of crude oil and products around the Cape of Good Hope, a direct consequence of Red Sea disruptions. - According to Kpler data, onshore inventories in developed nations have plunged to their lowest for this time of the year in post-pandemic history, with buyers failing to purchase enough to replenish stocks. - At the same time, the amount of oil that is sailing on water has risen to the…