Oil to Be ‘Ongoing, Absolute Disaster’ Over Next Two Months, Analyst Sankey Says
Speakers
Paul Sankey
— Lead Analyst, Sankey Research
Summary
Paul Sankey predicts an ongoing absolute disaster for the global oil market over the next two to three months due to locked-in supply chain disruptions from tanker delays, even if Strait of Hormuz reopens. He highlights that inventory numbers are becoming scary and emergency inventories are lower than they appear.
- Sankey expects oil supply crisis to worsen for 2-3 months.
- Tanker delays are locked in even if Strait of Hormuz reopens.
- Inventory data is starting to look scary.
- Specific cracks in supply chains include Australia jet fuel and Japan solvents.
- Emergency inventories may be overstated and hard to release fully.
- Current oil prices not yet at crisis levels for US consumers.
- Situation is guaranteed to deteriorate further.
Trade Ideas
Oil supply locked for next 2 months
The global oil market faces a supply crisis that is guaranteed to worsen over the next two to three months because tanker deliveries are delayed and tankers are in the wrong places, even if Strait of Hormuz reopens. Inventory numbers are starting to look scary, and emergency inventories are likely lower than reported. This will lead to an ongoing absolute disaster in oil markets.
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This Bloomberg Markets video, published April 23, 2026, features Paul Sankey discussing WTI. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Paul Sankey · Tickers: WTI