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Home ENERGY

Iran War Sparks Global Rush to Build Oil Reserves: What Investors and Businesses Need to Know

by Newsroom Editor
June 22, 2026
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LONDON — Countries that suffered significant economic losses during the recent Iran conflict are now striving to build domestic oil and gas storage buffers to withstand future disruptions. This effort could generate demand for approximately half a billion additional barrels of oil.

The near-total closure of the Strait of Hormuz, which cut off about 20% of global oil and liquefied natural gas (LNG) supplies for over…

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