Asian And European Oil Markets Are Almost Depleted As Strait Of Hormuz Remains Closed, Strategist Says

Oil markets in Asia and Europe are almost depleted, according to a veteran strategist. (Credit: Getty Images)

Oil markets in Asia and Europe are almost depleted as the Strait of Hormuz remains closed, according to a veteran strategist.

Jeff Currie, Carlyle's chief strategy officer of energy pathways and co-chairman of Abaxx Markets, told CNBC that Asia is close to the "minimum operating levels" as part of the reserves can't be used immediately.