Saudi Aramco Chairman and CEO Amin Nasser said the US war on Iran, which closed the Strait of Hormuz from February, has pushed crude prices up about 50% and left global markets short roughly 3 billion barrels over nearly eight months. Although Gulf exports have recovered to 80% of pre-war levels, Brent rose above $112 this week, its highest in five months, while Houthi attacks threaten the Bab el-Mandeb strait. Nasser noted that the Gulf accounts for about 20% of global oil demand, and that emergency reserve releases, sharp Chinese cuts to seaborne crude imports and Aramco's East-West pipeline helped prevent a more severe price shock, though prices could otherwise have surged above $200 a barrel. Once conditions normalize, demand is expected to rise by about 3 million barrels per day, including 2 million from consumption growth and 1 million to restock reserves, which could keep pressure on the market for a long time.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Ông trùm dầu mỏ Saudi Arabia cảnh báo về nguồn cung toàn cầu
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oil pricesStrait of HormuzSaudi ArabiaIran
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PAXG/USDT
▼ Likely negativePAX Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/22/2026 | 4,036.10 |
| Change that session | -2.23% |
XAUT/USDT
▼ Likely negativeTether Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/22/2026 | 4,030.01 |
| Change that session | -2.29% |
XAU/USD
▼ Likely negativeRelevance: low
| Market | Gold |
|---|---|
| Close on 10/22/2026 | 4,024.59 |
| Change that session | -2.82% |
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