Oil Shock Far From Over: Energy Giants Warn Global Fuel Supplies May Stay Tight for Months After Iran Deal

LONDON, May 6 (Reuters) – Oil supplies are set to tighten further in coming weeks even if the U.S. and Iran agree on a peace deal to end their war because it will take weeks for oil shipments to resume from the Middle East Gulf and reach refiners worldwide – so oil companies will continue to deplete storage tanks to meet peak summer demand.

The world has used temporary buffers – commercial stockpiles, oil in transit or held in storage at sea and emergency reserves – to offset the shock from the war in the Middle East. The