Gate News message: On April 9, according to a report by Japan’s Kyodo News on Thursday, although the U.S. and Iran have reached a ceasefire, Japan is considering releasing oil reserves again as early as May—about 20 days’ worth—because the outlook for the Strait of Hormuz reopening remains uncertain. About 95% of Japan’s oil supply depends on the Middle East. Since March 16, Japan has begun releasing its oil reserves through domestic coordination and cooperation with other countries, for a total of roughly 50 days’ worth of oil, and has asked the International Energy Agency to consider coordinating the release of a second batch of reserves. At present, Japan’s oil reserves are still sufficient to last 230 days.
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