Though oil prices have soared in part due to fears of geopolitical tensions triggering supply...

|By:, SA News Editor

Though oil prices have soared in part due to fears of geopolitical tensions triggering supply shortages, inventories are currently well above historical norms, notes Bespoke. Global crude inventories are currently north of 345M barrels, whereas the norm for this time of year is closer to 325M. Inventories traditionally peak in early May around 335M barrels. (earlier)