🛢️ $XOM — the buffer is almost gone and two oil majors just said so out loud
Global crude oil inventory buffers are hitting critically low levels (101 days of demand, lowest in 8 years) as the Hormuz strait blockade forces 8.7M bbl/day drawdown. With stress levels expected June-July, Brent crude will re-rate higher once the market recognizes the cushion is gone, driving XOM upward on fundamentals and operator commentary.