West has ‘drained’ all available oil inventories – Vitol CEO

Crude stocks have been burned through as the energy crunch spreads to global shipping, Russell Hardy has said Western countries have exhausted the oil inventories available to offset supply disruptions from the US-Israeli war with Iran, leaving the market increasingly exposed to further shocks, Vitol CEO Russell Hardy has said. The energy crunch has now spread from crude and refined fuels to glob…