Fuel rationing and empty pumps have been reported in at least five countries as of September 19, with the Iran war disrupting crude and refined-product flows. Brent crude traded near $110 this month, its strongest level since spring, while the Strait of Hormuz has been largely shut since Iran retaliated for US and Israeli strikes on February 28. Houthi advances at the Bab al-Mandab chokepoint have also constrained a major bypass route. Vitol CEO Russell Hardy said the market is short almost 2 million barrels a day of refined products from Russia and nearly 2 million more from the Middle East. France, Pakistan, Bangladesh, Indonesia and Nepal are experiencing different forms of fuel, gas or electricity stress, including rationing, supply queues and protests. The approaching Northern Hemisphere heating season could intensify competition for oil and gas cargoes, while President Emmanuel Macron is seeking a G7 meeting to discuss coordinated action and potential strategic-reserve releases.