May 25: Impact of the US-Iran War on the International Economy, Financial Markets, and Daily Life

Central News Agency, Taipei, May 25. Negotiations between the US and Iran are deadlocked, and the Strait of Hormuz remains blocked. Goldman Sachs estimates that, including private commercial stocks and national strategic reserves, global crude oil stocks were at about 101 days of demand at the end of April and will fall to 98 days by the end of May. Many countries have already adopted emergency energy-saving measures.

The following is the latest situation regarding the impact of the US-Iran war on the international economy, financial markets, and daily life:

Global Crude Oil Stocks to Fall Below 100 Days of Demand; 54 Countries and Regions Implement Emergency Energy Saving Global crude oil stocks are projected to fall below 100 days of demand by the end of May, and experts point out that oil prices may surge again. According to International Energy Agency (IEA) statistics, 54 countries and regions worldwide have implemented emergency energy-saving measures.

Yulia Zhestkova of Goldman Sachs' commodity research department pointed out that even if the Strait of Hormuz were to reopen immediately, it would take at least several weeks to return to normal, and global stocks could decline further by the end of June.

First Tanker Managed by Japanese Company Arrives in Japan After Passing Through the Strait of Hormuz Since Middle East Situation Worsened After the Middle East situation worsened, a tanker managed by a Japanese company passed through the Strait of Hormuz on the 25th and arrived safely in Japan. Sources revealed that the ship 'did not pay any transit fees to the Iranian side.'

The tanker, 'Idemitsu Maru,' is registered in Panama and managed by the Idemitsu Kosan Group, a major Japanese petroleum wholesaler. Idemitsu Kosan stated that the tanker is carrying about 2 million barrels of Saudi Arabian crude oil, which will later be transported to refineries to be processed into petroleum products. This amount of crude oil is equivalent to about 80% of Japan's daily domestic consumption.

Middle East War Causes India's Oil Prices to Rise Four Times; Analysts Worry About Rising Prices Due to the rise in global oil prices caused by the Middle East war, India's 'The Economic Times' reported that India's gasoline and diesel prices were raised for the first time on the 16th, followed by two more hikes on the 19th and 23rd, and rose again on the 25th. This is the fourth price hike in less than two weeks.

Analysts warn that if gasoline and diesel prices continue to rise, transportation and logistics costs will inevitably pile up, eventually forcing companies to pass costs on to consumers, causing prices of food and daily necessities to soar.