How much oil-market buffer is left?

Oil and fuel prices have surged significantly, with Brent crude up 40%, US diesel reaching record highs at $6.27 (up 68%), and US gasoline at $4.33 (up 54%) as of mid-September. The US Strategic Petroleum Reserve has dropped to its lowest level since 1982, while European and Asian natural gas prices have spiked roughly 153% and 167% respectively, driven by supply disruptions from maintenance issues, tanker attacks, and production damage at major facilities. These tight supply conditions suggest limited remaining buffers to absorb further shocks to global energy markets.