This crisis just hit extremely dangerous levels.
World Oil Inventories Just Hit Their Operational Floor
September 16 (King World News) – Jack Prandelli: Global visible oil inventories have dropped from about 8.4 billion barrels before the February 2026 Hormuz closure to roughly 6.8 billion barrels this month, per JPMorgan Commodities Research.
That’s the “operational floor,” the minimum JPMorgan says is needed to keep pipelines pressurized and refineries running.
JPMorgan flagged both thresholds back in May, stress by June and the floor by September if the war stayed unresolved.
Both landed on schedule.
That track record is why the next JPMorgan checkpoint on this chart is worth taking seriously rather than filed away as a worst-case scenario.
KING WORLD NEWS NOTE: World Inventories Have Collapsed To Extremely Dangerous Levels
Gold
Otavio Costa: This is still one of the most important macro divergences in markets today.
KING WORLD NEWS NOTE: Gold Is Now The Main Collateral For Central Banks
Ever since the US seized Russian assets, we have seen this historical relationship come apart.
Gold is now the main collateral for central banks.
Meanwhile, the current trajectory of real yields is exactly how you go bankrupt with this much debt in the US.
China Buying Gold
The Kobeissi Letter: BREAKING: Chinese gold ETFs added +11 tonnes of gold in August, marking their 2nd consecutive monthly increase.
This brings their total gold holdings up to 293 tonnes, the highest level since April and the 3rd-highest reading on record.
KING WORLD NEWS NOTE: Chinese Gold ETFs Hit Their 3rd Highest Reading On Record
This comes as investor demand surged, following a partial recovery in Chinese gold prices from their March-June declines, while Chinese government bond yields continued to fall.
Year-to-date, Chinese gold ETFs have acquired +45 tonnes of gold, on track for their 2nd-largest annual inflow on record.
Meanwhile, data suggests Chinese investors continued accumulating gold ETFs in early September, as falling bond yields and weak domestic equity markets supported demand for gold.
China’s appetite for gold is surging.
$200-$300 Silver
To listen to why Nomi Prins, who has been so accurate with her gold and silver price predictions, believes the price of silver will hit $200-$300 in the next 12-24 months CLICK HERE OR ON THE IMAGE BELOW.
Gold, Silver, Oil, Bonds, Stocks, Currencies
To listen to Alasdair Macleod discuss gold, silver, oil, bonds, stocks, currencies and more CLICK HERE OR ON THE IMAGE BELOW.
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