Exxon oil stock warning: Brent could hit $160 — NRG-IA

Exxon and Chevron warn of critical stock depletion — physical oil market enters high alert Exxon warns that global oil inventories will drop critically in weeks, risking major price spikes in the physical market. The US energy giant estimates that physical Brent cargoes could spike to $150–$160 per barrel once commercial inventories reach historic lows. This severe alert is mirrored by Chevron's leadership, warning of a massive summer supply squeeze as global shock absorbers dwindle rapidly. While recent US diplomatic signals temporarily cooled paper futures by over 5%, physical crude market tighteness remains extreme. Traders are currently assessing whether diplomatic talks led by US Secretary of State Marco Rubio can restore shipping traffic before commercial stocks run dry. In NRG-IA's view, the widening gap between paper futures and the actual cost of physical oil cargoes reflects an imminent shortage of physical molecules. Hormuz Strait blockade removes 13 million barrels per day…