Global oil reserves will run dry by mid-June, as per JP Morgan

Global oil markets are entering a dangerous phase as analysts warn that prolonged disruption around the Strait of Hormuz could trigger a sudden 'non-linear' spike in crude prices and panic buying. With inventories shrinking, tanker traffic disrupted, and geopolitical tensions involving Iran continuing, experts fear Brent crude could surge beyond $130-140 per barrel if supply conditions worsens.