The global oil market faces the risk of instability.

QNgTV - The global energy market is facing serious instability this summer as conflicts in the Middle East continue to paralyze shipping through the Strait of Hormuz – a strategic shipping lane for the global oil and gas industry. Experts warn that if the situation persists, many countries could face shortages of certain fuels, especially jet fuel.

The global oil market faces the risk of instability.

Nearly three months after fighting broke out in the Middle East in late February, there are still no signs that traffic through the Strait of Hormuz will soon return to normal. The disruption to this shipping route has cost the global oil market approximately 14 million barrels of oil per day, precisely at a time when energy demand is beginning to surge during the summer in the Northern Hemisphere.

Earlier, the International Energy Agency (IEA) warned that the world could enter a “danger zone” as early as July or August if oil supplies did not improve.

Meanwhile, the French energy group TotalEnergies has also warned of the risk of an "energy crisis" in the Atlantic region if the current situation continues for a few more months.

Meanwhile, Saudi Aramco, the national oil company, believes that global refined fuel inventories could fall to "critical levels" before summer.

Many governments have now had to implement energy saving measures and support for their citizens. According to the IEA, nearly 90 countries have adopted measures to reduce energy consumption or support consumers, a sharp increase from around 50 countries at the end of March.

Source: https://quangngaitv.vn/thi-truong-dau-mo-the-gioi-doi-mat-nguy-co-bat-on-6520431.html