Iran Crisis Triggers Global Rush to Build Strategic Oil Reserves

🛢️ RESERVES — Countries stockpiling now means they expect Hormuz to stay contested. 📌 LOOK CLOSER: Strategic reserve builds are a revealed preference — governments don't pay the carry cost unless they price reopening as unreliable. With Hormuz re-closed and the 60-day framework already broken at sequencing, buyers in Asia and Europe are front-running the next closure. Each barrel stockpiled tightens spot markets, sustaining elevated Brent independent of any deal Vance signs.