Javier Blas: Global oil stocks rise in June on higher oil at sea

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Javier Blas: Global oil stocks rise in June on higher oil at sea — Oil inventories rise in June on water

Javier Blas, energy and commodities columnist at Bloomberg, reports that global oil stocks saw an increase in June, driven entirely by higher volumes of oil on water according to International Energy Agency estimates.

This marks the first monthly rise in inventories since the war, following a decline of approximately 360 million barrels between March and May.

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Javier Blas previously estimated that Iran could earn $60-$70 billion a year in oil revenue if exports return to pre-war levels, according to his earlier report. In a separate development, Danish authorities ended a major 2023 market manipulation case involving energy traders in Aarhus, as Blas also noted. These updates add context to recent shifts in global oil inventories.

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