<div id="readability-page-1"><div><div><p>There is a growing consensus among energy-market experts that global supply buffers are being quickly drained as the Hormuz maritime chokepoint remains mostly closed. Tanker transits through the strait remain deeply depressed, with reported vessel counts down more than 90% from normal levels. <strong>The risk is that even if a peace deal is reached in the near term, oil markets may still require demand destruction before tight conditions normalize.</strong></p><p>Let's begin with our note from early Friday, citing Exxon and Chevron executives who warned that an oil-market inflection point is nearing as inventory levels are being drained to dangerously low levels amid the continued closure of the Hormuz chokepoint.</p></div></div></div>

埃克森美孚

雪佛龙

西方石油

<p>高盛警告称，能源市场正进入 “需求破坏” 阶段。尽管近期可能达成和平协议，但由于霍尔木兹海峡的关闭，全球供应缓冲正在迅速消耗，油轮通行量下降超过 90%。埃克森美孚和雪佛龙的高管也强调库存水平 dangerously low，暗示石油市场的拐点即将到来</p>

Goldman Warns Energy Markets Face Demand Destruction Phase

- 全球能源市场专家一致认为，霍尔木兹海峡的供应缓冲正在迅速枯竭。  
- 船舶通过该海峡的数量比正常水平下降超过 90%。  
- 即便达成和平协议，油市仍可能需要需求减少才能恢复正常。

ZeroHedge

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GS Hldg R

高盛警告称能源市场正面临需求破坏阶段