International Energy Agency (IEA) Director Fatih Birol stated on March 16 that

Current supply losses have surpassed those during the 1973 oil crisis~
Restoring normal shipping through the Strait of Hormuz is crucial for stabilizing the oil market~
What does 1973 mean?
That was the year when gas stations in Europe and North America were lined up for miles, factories shut down, and Western economies collectively bowed.
This time, the Strait of Hormuz has been effectively blocked since February 28, with 20 million barrels of crude oil unable to pass daily, accounting for over 20% of global demand.
The IEA has urgently coordinated 32 countries to release 400 million barrels from strategic reserves—sounds like a lot, but based on daily release rates, it can only fill about 1/10 of the gap.
As analysts say: reserves are a “painkiller,” not a “surgical knife.”
What’s more troublesome is that JPMorgan warns the global oil system is shifting from “supply shock” to “inventory depletion,” and the impact will spread from east to west, with most of the world feeling it by April.
Since the conflict erupted, crude oil prices have surged over 50%, and traders are frantically entering options markets betting on breaking $150 before the end of April.
Conclusion: This isn’t just rising oil prices; it’s the global supply chain re-pricing its fragility.
#霍尔木兹 #Crude Oil #能源危机 #Global Macroeconomics​​​​​​​​​​​​​​​​ #Oil Crisis