Global oil markets are facing renewed uncertainty as experts warn that rapidly declining crude oil inventories and continued disruptions in the Strait of Hormuz could push international oil prices sharply higher in the coming weeks.

According to international media reports, energy analysts and industry executives say global crude oil reserves are falling at an alarming pace, increasing the risk of another major spike in fuel prices. The warning comes as geopolitical tensions involving Iran continue to affect shipping activity through the Strait of Hormuz, one of the world's most important oil transit routes.

Neil Chapman, Senior Vice President of ExxonMobil, cautioned that if the current decline in oil inventories continues, Brent crude prices could rise to between $150 and $160 per barrel. Such a jump would represent a significant increase from current levels and could have widespread consequences for global economies.

Experts noted that many countries have relied on strategic petroleum reserves to offset supply disruptions, but those stockpiles cannot provide long-term relief. The International Energy Agency has also warned that fuel inventories may fall further during the summer months as seasonal demand rises, placing additional upward pressure on prices.

Investors and economists fear that prolonged high oil prices could fuel inflation, keep interest rates elevated, and slow economic growth across major markets. Higher energy costs could also reduce consumer spending and increase operating expenses for businesses worldwide.

Analysts believe the energy market will remain volatile until shipping activity through the Strait of Hormuz returns to normal. If the situation persists, Pakistan could face another significant increase in petroleum prices, with some market observers warning that petrol prices could potentially climb to between Rs450 and Rs500 per litre in the months ahead.