Chevron CEO Wirth on Oil Prices, Strait of Hormuz, Venezuela
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Traders see a deal.Chevron sees shortages.One side is trading headlines. The other is watching inventories vanish.Physics usually wins.#Oil #EnergyMarkets #Hormuz #Chevron #Commodities #EnergySecurity #OilPrices
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🇺🇸 Chevron's CEO said June and July will be worse.Exxon is projecting $150-$160 oil within 2-3 weeks.ADNOC says the Strait of Hormuz won't fully recover until 2027.And markets haven't reacted yet.Either traders know something 3 oil CEOs don't, or the real shock hasn't hit yet because the physical market is still catching up to the fundamentals.The buffers are gone. The spare capacity is gone. The next supply disruption doesn't get absorbed anymore… It goes straight to your gas tank.Source: Blo
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