Gunvor Warns 5M bpd Loss, Iran War

Gunvor warns demand loss could hit 5 million barrels/day in May, about 5% of global supply if Hormuz stays closed.
Vitol CEO Russell Hardy says war has already removed ~4 million barrels/day of demand, a figure set to rise as conflict persists.
IEA says Persian Gulf crude and refined supplies have fallen ~13 million barrels/day since the war began end‑February, raising cargo and fuel prices.
Trafigura economist Saad Rahim says demand loss is spreading beyond Asia, curbing petrochemical output in China and airline activity in SE Asia.