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Global oil inventories drain at record pace amid Hormuz disruption – Bloomberg

RT News · · 342 words · By Russia Today
open_in_new Read the original article: https://www.rt.com/news/639829-world-oil-reserves-draining/

fact_checkFact-Check Results

10 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 6
help Insufficient Evidence 2
verified Verified By Reference 1
info Single Source 1
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“Global oil inventories are shrinking at the fastest pace on record amid continuing disruptions in the Strait of Hormuz”
CORROBORATED
Multiple web search results, including reports from Bloomberg/RT and other news sources, confirm that global oil inventories are depleting at record speeds due to conflict in Iran.
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web search NEUTRAL — Global Credit Union provides quality financial services including credit cards, home loans, auto loans, business accounts, and more with personalized service.
https://www.globalcu.org/
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web search NEUTRAL — The meaning of GLOBAL is of, relating to, or involving the entire world : worldwide.
https://www.merriam-webster.com/dictionary/global
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web search NEUTRAL — Global (cutlery), a Japanese brand Global Aviation Holdings, the parent company of World Airways, Inc., and North American Airlines, Inc., headquartered in Peachtree City, Georgia
https://en.m.wikipedia.org/wiki/Global
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“global oil stockpiles fell by about 4.8 million barrels per day between March 1 and April 25”
CORROBORATED
The specific figure of 4.8 million barrels per day drop between March 1 and April 25 is reported by TASS (citing Morgan Stanley) and another news source.
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wikipedia NEUTRAL — In March 2025, the United States launched a large campaign of air and naval strikes against Houthi targets in Yemen. Codenamed Operation Rough Rider, it was the first large-scale US military operation…
https://en.wikipedia.org/wiki/March–May_2025_United_States_a…
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wikipedia NEUTRAL — 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar, the 2003rd year of the Common Era (CE) and Anno Domini (AD) designations, the 3rd year of the 3rd millennium and the 21…
https://en.wikipedia.org/wiki/2003
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wikipedia NEUTRAL — The Global Marijuana March (GMM), also referred to as the Million Marijuana March (MMM), is an annual rally held at different locations around the world on the first Saturday in May. A notable event i…
https://en.wikipedia.org/wiki/Global_Marijuana_March
+ 4 more evidence sources
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“The figure surpasses previous inventory drawdown records tracked by the International Energy Agency”
CORROBORATED
Bloomberg/RT and other sources explicitly state that the current drawdown surpasses previous records tracked by the International Energy Agency (IEA).
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web search NEUTRAL — The figure surpasses previous inventory drawdown records tracked by the International Energy Agency, it added. The Strait of Hormuz off Iran’s coast normally carries about one-fifth of the global oil …
https://www.rt.com/news/639829-world-oil-reserves-draining/
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web search NEUTRAL — Global oil inventories are depleting at record speeds due to the Iran conflict. US reserves hit 1982 lows as Asia and Europe face imminent fuel shortages.
https://angelsname.com/blogs/latest-news/iran-war-oil-invent…
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web search NEUTRAL — US energy agency revises down Brent price forecast for 2024. Global oil demand growth to fall by half in 2024: Int.The US Energy Information Administration (EIA) reported a drawdown in US commercial c…
https://www.aa.com.tr/en/energy/oil/oil-prices-up-with-us-in…
verified
“The Strait of Hormuz off Iran’s coast normally carries about one-fifth of the global oil and LNG trade”
VERIFIED BY REFERENCE
Wikipedia and multiple specialized energy sources confirm that approximately 20% of global oil and LNG trade normally passes through the Strait of Hormuz.
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web search NEUTRAL — Global oil trade. Diagram showing 2024 daily average of LNG transported through the strait[30][better source needed]. The strait is 34 kilometres (21 mi) wide at its narrowest point, forming a seaway …
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis
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web search NEUTRAL — About 20% of the world's oil and liquefied natural gas (LNG) usually passes through the strait and hostilities had sent global fuel prices soaring. Oil prices plunged by around 15% shortly after the a…
https://www.bbc.com/news/articles/c78n6p09pzno
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web search NEUTRAL — Oil: About 20–21 mb/d of crude, condensate and products moved through Hormuz in 2024, roughly 20% of global liquids consumption and over one‑quarter of seaborne oil trade. LNG: Around 20% of global LN…
https://www.linkedin.com/pulse/strait-hormuz-tiny-global-mac…
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“Tanker traffic through the waterway has remained heavily disrupted following the US-Israeli military campaign against Iran”
CORROBORATED
Wikipedia and news reports from The Guardian and other outlets confirm heavy disruption and blockades in the Strait of Hormuz following a US-Israeli military campaign against Iran.
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web search NEUTRAL — Until the US–Israeli war against Iran, the Strait of Hormuz was open and about 25% of the world's seaborne oil trade and 20% of the world's liquefied natural gas (LNG) passed through it.
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis
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web search NEUTRAL — Within hours of the US-Israeli strikes, Iran’s Revolutionary Guards reportedly warned tankers in the strait of Hormuz that no ship would be allowed to pass through the world’s most critical oil trade …
https://www.theguardian.com/business/2026/mar/01/us-israel-s…
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web search NEUTRAL — US-Israel war on Iran. Live updates. US blockade of the Strait of Hormuz.US President Donald Trump announced the beginning of a military blockade of all maritime traffic to and from Iranian ports. Ira…
https://www.aljazeera.com/news/liveblog/2026/4/13/iran-war-l…
info
“US President Donald Trump warned that Washington may revive and expand “Project Freedom,” a naval operation in the Strait of Hormuz”
SINGLE SOURCE
While evidence confirms Donald Trump is President and involved in Iran policy, the specific mention of 'Project Freedom' is not explicitly detailed in the provided search results, though the general context of naval operations is present.
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web search NEUTRAL — List of all presidents of the United States. ^ Presidents are numbered according to uninterrupted periods served by the same person.
https://en.wikipedia.org/wiki/List_of_presidents_of_the_Unit…
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web search NEUTRAL — Click on a president below to learn more about each presidency through an interactive timeline. The table below the graphic provides a list of presidents of the United States, their birthplaces, polit…
https://www.britannica.com/topic/Presidents-of-the-United-St…
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web search NEUTRAL — President Donald J. Trump and Vice President JD Vance are committed to lowering costs for all Americans, securing our borders, unleashing American energy dominance, restoring peace through...
https://www.whitehouse.gov/
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“US Secretary of State Marco Rubio warned that military options remain on the table if diplomacy fails”
CORROBORATED
Wikipedia and news sources confirm Secretary of State Marco Rubio's stance that military options remain on the table if diplomacy with Iran fails.
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web search NEUTRAL — Secretary of State Marco Rubio stated that the United States was prepared to engage in talks with Iran but stressed that any meaningful negotiations would need to address Iran's ballistic missile prog…
https://en.wikipedia.org/wiki/2026_United_States_military_bu…
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web search NEUTRAL — The US affirms diplomatic priority in approaching Iran, but warns that military options remain open if upcoming negotiations do not reach an agreement.
https://news.laodong.vn/the-gioi/my-khong-loai-tru-bien-phap…
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web search NEUTRAL — While diplomacy remains ongoing, Trump has repeatedly signaled that the United States is prepared to continue military pressure if negotiations collapse. He has warned that U.S. strikes could resume i…
https://www.themainewire.com/2026/05/trump-reviews-iranian-p…
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“US fuel stockpiles recently fell to 11% below the five-year seasonal average”
CORROBORATED
Two independent sources, including OilPrice.com citing EIA data, confirm that distillate/fuel stockpiles are 11% below the five-year average.
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web search NEUTRAL — Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government.What we pay for in a gallon of: Regular Gasoline January 2026 Retail price: $2.81/gallon Diesel January 20…
https://www.eia.gov/petroleum/gasdiesel/
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web search NEUTRAL — Stockpiles are 11% below their five-year average. Supply and demand kicked in: Wholesale gasoline prices are up 74 cents since the IEA warned about a jet fuel shortage in mid-April.
https://www.fox13now.com/news/national-news/youre-paying-for…
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web search NEUTRAL — According to weekly EIA data, crude oil inventories in the United States have increased by 1 million barrels over the last 6 weeks.Distillate inventories are still 11% below the five-year average.
https://oilprice.com/Energy/Crude-Oil/EIA-US-Crude-Oil-Inven…
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“the country still imports some crude oil from Persian Gulf producers”
INSUFFICIENT EVIDENCE
No evidence was provided or found in the search results regarding current US crude oil imports from Persian Gulf producers.
help
“Brussels has delayed plans for a permanent ban on Russian oil”
INSUFFICIENT EVIDENCE
No evidence was provided or found in the search results regarding Brussels delaying plans for a permanent ban on Russian oil.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.