$OIL STOCKPILE HITS 58M BARRELS AS BUYERS WAIT ON THE SIDELINES 🛢️
Iran is sitting on a massive oil glut — 58 million barrels and counting. Over 90% still hasn't found a final buyer as sanctions and weak Asian demand keep the market in pause mode. Tankers are idling near Singapore, waiting for clarity on payment mechanisms.
This kind of oversupply usually pressures prices, but the market is pricing in a wait-and-see approach. If Iran slashes discounts further, we might see a pickup from Asian refineries.
How do you see this affecting energy markets?
Not financial advice. Always manage your risk.
#OIL #Energy #SupplyGlut #CryptoMacro
🛢️
Iran is sitting on a massive oil glut — 58 million barrels and counting. Over 90% still hasn't found a final buyer as sanctions and weak Asian demand keep the market in pause mode. Tankers are idling near Singapore, waiting for clarity on payment mechanisms.
This kind of oversupply usually pressures prices, but the market is pricing in a wait-and-see approach. If Iran slashes discounts further, we might see a pickup from Asian refineries.
How do you see this affecting energy markets?
Not financial advice. Always manage your risk.
#OIL #Energy #SupplyGlut #CryptoMacro
🛢️