BREAKING:
Iran has selected a new Supreme Leader after the death of Ali Khamenei, but the name is being kept secret for security reasons, according to ISNA
Iran has selected a new Supreme Leader after the death of Ali Khamenei, but the name is being kept secret for security reasons, according to ISNA
👍1
🚨 BREAKING
China’s CPI inflation climbs to 1.3% YoY in February, vs 0.8% expected
China’s CPI inflation climbs to 1.3% YoY in February, vs 0.8% expected
Cryptonians
Gold Sell 5092-90 TP1: 5085 TP2: 5080 TP3: 5078 SL 5105 Use small lot
1st Target hit, revise sl at cost now
*Gold builds on the previous rebound from near $5000 early Tuesday as risk sentiment recovers.
*The US Dollar consolidates the overnight drop, led by Trump’s comments that the Iran war could be ‘over soon’.
*Technically, Gold needs a daily closing above 61.8% Fibo level at $5141 for a sustained move higher.
*The US Dollar consolidates the overnight drop, led by Trump’s comments that the Iran war could be ‘over soon’.
*Technically, Gold needs a daily closing above 61.8% Fibo level at $5141 for a sustained move higher.
Background on Strategic Petroleum Reserves
G7 countries collectively hold around 1.1 billion barrels of strategic oil reserves, with the U.S. accounting for roughly 450 million barrels alone.
Japan has the largest buffer, covering about 109 days of imports, while most other G7 nations maintain reserves below the 90-day level.
In 2022, following the Russia-Ukraine war, the U.S. released about 180 million barrels over six months to stabilize markets.
Before the Iran conflict, nearly 20 million barrels per day (mb/d) of oil passed through the Strait of Hormuz, but flows are now close to zero.
Implication
Even if the G7 releases around 360 million barrels over the next six months (half from the U.S. and half from other G7 members), it would add only about 2 mb/d to supply, which is far below the 18–20 mb/d shortfall.
Conclusion
A coordinated G7 reserve release could slow the rise in crude prices, but it is unlikely to fully offset the supply disruption
G7 countries collectively hold around 1.1 billion barrels of strategic oil reserves, with the U.S. accounting for roughly 450 million barrels alone.
Japan has the largest buffer, covering about 109 days of imports, while most other G7 nations maintain reserves below the 90-day level.
In 2022, following the Russia-Ukraine war, the U.S. released about 180 million barrels over six months to stabilize markets.
Before the Iran conflict, nearly 20 million barrels per day (mb/d) of oil passed through the Strait of Hormuz, but flows are now close to zero.
Implication
Even if the G7 releases around 360 million barrels over the next six months (half from the U.S. and half from other G7 members), it would add only about 2 mb/d to supply, which is far below the 18–20 mb/d shortfall.
Conclusion
A coordinated G7 reserve release could slow the rise in crude prices, but it is unlikely to fully offset the supply disruption