Gate News reports that on March 15, JPMorgan Chase data showed that the G7 countries coordinating the release of strategic oil reserves can only deliver about 1.2 million barrels of oil per day. Historically, the peak emergency release was about 1.4 million barrels per day. However, due to ongoing oil field modernization and lower inventory levels, the operational flexibility of U.S. oil reserves may be below the 1 million barrels per day level in 2022. Meanwhile, due to the Strait of Hormuz blockade, approximately 16 million barrels of crude oil are stranded in the Persian Gulf daily. A release of 1.2 million barrels per day can only cover about 7.5% of the 16 million barrel daily shortfall. Analysts point out that emergency reserves can buy time but cannot compensate for lost supply or resolve supply bottlenecks.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
TradFi Fall Alert: USDKRW (US Dollar vs South Korean won) Falls Over 1%
Gate News: According to the latest Gate TradFi data, USDKRW (US Dollar vs South Korean won) has dropped by 1% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews04-17 17:24
TradFi Rise Alert: US30500 (Dow Jones 30) Rises Over 1.5%
Gate News: According to the latest Gate TradFi data, US30500 (Dow Jones 30) has surged by 1.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews04-17 15:22
U.S. 5-Year Treasury Yields Drop 10 Basis Points
Gate News message, April 17 — U.S. 5-year Treasury yields (benchmark measure of medium-term U.S. government borrowing rates) fell 10 basis points intraday.
GateNews04-17 15:01
U.S. Stock Indices Rise, Dow Jones Up 2%, Tech Stocks Gain Broadly
On April 17, U.S. stocks rose significantly, with the Dow Jones increasing by 2%, the S&P 500 by 1.12%, and the Nasdaq Composite by 1.34%. Key gainers included Boeing, Home Depot, and major tech companies like Tesla and Apple.
GateNews04-17 14:41
TradFi Fall Alert: XTIUSD (WTI Crude USOIL) Falls Over 8%
Gate News: According to the latest Gate TradFi data, XTIUSD (WTI Crude USOIL) has dropped by 8% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews04-17 13:20
U.S. Dollar Spot Index Erases All Gains Since Middle East War Outbreak
Gate News message, April 17 — The U.S. Dollar Spot Index has wiped out all gains accumulated since the outbreak of the Middle East conflict.
GateNews04-17 13:11
