Vitol warns US Iran war wiped up to a billion barrels of oil from markets

A trader says the lost barrels never returned

Swiss commodities giant Vitol says the US-Iran war has already removed up to a billion barrels from global oil markets. Speaking at a summit in Lausanne, the world’s biggest independent oil trader argued the shock didn’t just disrupt supply, it effectively erased volumes from the system—tightening balances and raising uncertainty for prices and availability.