IMF, World Bank and IEA Warn Fuel-Supply Risks Are Rising as Hormuz Disruptions Drain Oil Stocks

The International Monetary Fund, World Bank and International Energy Agency issued a joint warning overnight that global fuel supplies face heightened risks unless shipping flows through the Strait of Hormuz return to normal.

The warning, dated May 30, 2026, said global oil stocks are falling at the fastest rate in history because of disruptions linked to the Gulf-region conflict. The agencies said continued inventory depletion ahead of peak summer demand threatens supply security, market stability and global economic resilience.

The statement came despite reports from the previous day that the United States and Iran had reached a preliminary agreement to extend a ceasefire and ease shipping restrictions. Those reports had initially helped push crude oil prices lower, but the agencies’ warning underscored that the physical supply picture remains fragile while Hormuz flows remain impaired.

The risk for policymakers is that renewed pressure in fuel markets could revive inflation concerns at a difficult moment for central banks. Energy costs feed through to transport, production and household bills, and an extended drawdown in inventories would leave markets more vulnerable to further shocks.

Coverage for this edition is based on overnight reports and forward-looking statements from May 29 and earlier in the week, with the research notes emphasizing that real-time newswire reporting for the specified future date was not available.