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Story summary
- Neil Chapman, vice president of Exxon Mobil, warned inventories have fallen and could hit lows, risking a price surge.
- He said Brent could jump to $150-$160 per barrel while futures stay below $95, as the International Energy Agency (IEA) said a billion barrels were removed by the Strait of Hormuz closure, the largest disruption.
- Oil-importing emerging markets sold $86 billion of U.S. Treasuries in March, the biggest monthly decline since 2011.
