Global oil market alert escalates: 1 billion barrels of crude oil cut off due to blockage at the world's oil valve. Analysts: The global oil market is unlikely to return to its past state.

Nasser stated that due to disruptions in the Strait of Hormuz, the market has already lost more than 1 billion barrels of oil supply. Furthermore, for each week that passage through the strait is impeded, the global oil market loses 100 million barrels of supply. JPMorgan's latest analysis also points out that the current pressure in the crude oil market is being transferred downstream to the refined oil market. When jet fuel profits rise sharply, refineries will try to maximize jet fuel production, which often directly squeezes diesel supply. This "trade-off" relationship causes refined oil prices to face even greater upward pressure than crude oil prices. The Director of Energy Fuels and Refining Research at S&P Global said: The market could face a crisis. The institution anticipates that the pace of refined oil demand decline in this round will be twice that of the weakest quarter during the 2007 to 2009 economic recession. Analysts pointed out that the market can no longer return to its past normal state.