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Trump told the G7 that America had four weeks of oil left. This video breaks down what he actually meant, why a small town in Oklahoma called Cushing sits at the centre of the global oil market, and how its storage tanks running dry could send prices soaring and feed straight into inflation, interest rates and the US bond market.
We cover the three buffers holding oil prices down since the closure of the Strait of Hormuz, why the Strategic Petroleum Reserve cannot simply fill the gap, and what all of this reveals about the leverage the Muslim world holds.
Here's a tightened source list — seven sources, all primary or established outlets, attributions corrected.
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Sources
Trump's four week claim at the G7, The Hill: https://thehill.com/policy/energy-environment/5928618-iran-deal-oil-reserves-g7/
SPR levels and drawdown data, US Department of Energy: https://www.energy.gov/hgeo/opr/spr-faqs
Cushing near its operational floor, Wood Mackenzie: https://www.woodmac.com/press-releases/cushing-crude-stocks-near-operational-floor-global-supply-crisis/
July 9 buffer exhaustion and the 7.1 million barrel per day shortfall, Robin Brooks and Ben Harris, Brookings Institution: https://www.brookings.edu/articles/the-timing-of-the-impending-crude-crisis/
30 year Treasury yield at its highest since 2007, NBC News: https://www.nbcnews.com/business/markets/bonds-oil-prices-stocks-trump-china-trip-rcna345290
Foreign central banks selling US Treasuries, CNBC: https://www.cnbc.com/2026/05/19/central-banks-offload-us-treasuries-china-holdings-at-18-year-low.html
India oil crisis and rupee pressure, OilPrice: https://oilprice.com/Energy/Energy-General/Indias-Oil-Crisis-Deepens-as-Hormuz-Remains-Shut.amp.html
Strait reopening doubts, CNN Business: https://www.cnn.com/2026/06/20/business/strait-of-hormuz-opening
Global bond sell off and Gulf Treasury sales, Bitget News: https://www.bitget.com/asia/amp/news/detail/12560605418114
