Oil bosses warn prices will soar in a matter of weeks as inventories near unprecedented lows — 'I mean really, really low levels'

(Credit: U.S. Marine Corps)

The two biggest U.S. oil companies joined the growing chorus of voices sounding the alarm on the imminent doom global markets could soon face.

With the Strait of Hormuz still effectively closed, top oil-consuming countries have been rapidly draining their reserves, helping keep crude prices in check.