Finance

Executive summary

The International Monetary Fund (IMF), World Bank, and International Energy Agency (IEA) issued a joint warning overnight, stating that global fuel supplies face heightened risks unless shipping flows through the Strait of Hormuz return to normal. They noted that global oil stocks are declining at the fastest rate in history due to disruptions caused by the conflict in the Gulf region. This warning, dated May 30, 2026, comes despite reports from the previous day suggesting a preliminary agreement between the U.S. and Iran to extend a ceasefire and ease shipping restrictions, which had initially led to a decline in crude oil prices. The agencies emphasize that continued depletion of inventories ahead of peak summer demand poses risks to supply security, market stability, and global economic resilience, potentially re-igniting inflation concerns for central banks.