Oil Inventories Falling at Record Pace, Warns IEA | The Pulse 05/13/2026
Speakers
Toril Bosoni
— Head of Oil Industry and Markets Division, International Energy Agency
Andreas Utermann
— Chairman, Vontobel
Michael Haigh
— Head of Commodities Research, Societe Generale
Summary
The IEA warns of a record pace of oil inventory declines due to the Iran war disruption, with prices expected to rise further even after a potential peace deal. Meanwhile, President Trump travels to China for trade talks, joined by Nvidia CEO Jensen Huang, raising hopes for tech deal progress. Shipping demand remains strong but costs are elevated. UK political turmoil continues.
- IEA warns oil inventories falling at record pace
- Oil supply disruptions in Strait of Hormuz likely to persist
- Brent crude prices seen facing upward pressure
- Trump focuses on trade with China, joined by Nvidia CEO
- Potential for China to allow purchases of Nvidia chips
- SoftBank profit jumps on OpenAI investment
- Hapag-Lloyd reports weaker results but strong demand
- UK political uncertainty impacts bond market
Trade Ideas
Oil prices will rise further.
Oil inventories are declining at a record pace due to supply disruptions in the Strait of Hormuz. Even if the conflict ends, it will take weeks to months to resume normal flows, so prices will face increased upward pressure.
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This Bloomberg Markets video, published May 13, 2026, features Toril Bosoni discussing BNO. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Toril Bosoni · Tickers: BNO