Gunvor, Vitol Warn 5 M bpd Demand Destruction

Gunvor warns demand destruction could hit 5 M bpd in May, about 5% of supply, if Hormuz stays closed three months.
Vitol CEO Russell Hardy says the war has already removed ~4 M bpd of demand, which will rise as the conflict persists.
IEA says Persian Gulf oil and refined product supplies fell ~13 M bpd since the war began end‑February, lifting prices.
Trafigura chief economist Saad Rahim notes demand loss is spreading beyond Asia, affecting petrochemicals, airlines and agriculture, risking broader recession.