Physical Oil Hits $250 as Genoil Proposes Solutions Amid Hormuz Supply Crisis

Genoil Inc. has proposed a rapid 30-60 day upstream solution to mitigate the severe supply shortages triggered by the ongoing Strait of Hormuz crisis. This initiative comes as physical oil prices surged to $250 per barrel, with analysts warning of a potential spike to $700 should global derivative markets collapse. According to the International Energy Agency (IEA), global oil supply plunged by 10.1 million barrels per day in March, marking one of the largest disruptions in history. The crisis, fueled by the blockade of the Strait and attacks on Middle Eastern energy infrastructure, has resulted in a massive inventory draw of 85 million barrels. These extreme conditions underscore a growing decoupling between physical and paper markets, presenting systemic risks to global energy stability.