Global oil supply disruption exceeds 500 million barrels amid Middle East conflict

Since late February, approximately 500 million barrels of crude oil and condensates have been removed from the global market, resulting in a valuation loss exceeding 50 billion dollars. Data from Kpler indicates this event represents one of the largest energy supply disruptions in modern history. Following a brief ceasefire in Lebanon, Iranian Foreign Minister Abbas Araghchi announced the reopening of the Strait of Hormuz, but the route was closed again within 24 hours. Tehran cited the U.S. blockade of Iranian ports as the reason for this renewed closure. U.S. President Donald Trump has expressed optimism that a deal to end the war in Iran may be reached soon, though the situation remains uncertain. Analysts suggest that global oil inventory replenishment could take years, even if the strategic waterway remains open. Global land-based crude stocks have already decreased by approximately 45 million barrels during April alone.