On July 21, local time, International Energy Agency Executive Director Fatih Birol issued a statement saying that the escalation of the Middle East conflict has affected the Strait of Hormuz and regional energy infrastructure, further exacerbating global oil supply security concerns and market uncertainty; the security threats facing the Strait of Mande have also further increased energy transportation risks. According to the International Energy Agency, since member states decided to put 400 million barrels of strategic oil reserves on the market on March 11, about 290 million barrels have entered the market, and member states still hold more than 1 billion barrels of government strategic reserves, which can continue to deal with supply risks.

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