Data analysis firm Kayrros: The Hormuz Strait is still not open, global crude oil inventory buffers continue to be depleted.

Antoine Halff, co-founder and Chief Analyst of the geographic spatial analysis company Kayrros, posted on LinkedIn that in the second half of March, global crude oil inventories stored in onshore and ground tanks decreased by about 850,000 barrels per day on average. Since March 19, Asian crude oil inventories have plummeted by over 26 million barrels, reaching the lowest levels for the same period in at least ten years. Asian inventories are still higher than the levels on March 11. So far, the supply shortage caused by interruptions in Persian Gulf oil supply has mainly affected the volume of oil transported by sea, as producers had already shipped oil out of the region in advance. "Buffer stocks are continuing to decrease."