Global oil market hit by 500 million barrel loss amid Iran war

Global oil market hit by 500 million barrel loss amid Iran war The war on Iran has removed about 500 million barrels of crude from the global market, the largest energy supply disruption in modern history, according to data from analytics firm Kpler. The figures refer to losses linked to the conflict involving Iran, the United States and Israel. Reuters reported the disruption was equivalent to “nearly a month of oil demand in the United States, or more than a month of oil for all of Europe”.