Oil Price Surge May Reflect Supply Risks Rather Than Asian Inventory Rebuilding

Recent increases in oil prices may be driven more by geopolitical supply concerns than by Asian countries rebuilding depleted inventories, according to market commentary.
The analysis claims that most major Asian importers have returned to pre-war oil purchasing levels without significantly exceeding them.
China is described as an exception, with oil flows reportedly remaining approximately 2 million barrels per day below earlier levels, a shortfall attributed to the US blockade affecting Iranian exports.
If accurate, these figures would weaken the argument that aggressive inventory replenishment is driving the latest price surge. However, the country-level flow estimates and blockade effects require verification before drawing firm conclusions about global oil demand.