As the situation in the Middle East shows no sign of returning to normal anytime soon, the Strait of Hormuz remains closed, preventing nearly one-fifth of the world¡¯s oil exports from reaching their destinations.
On Friday, Japan will begin to release another 20 days¡¯ worth of oil from its domestic stockpiles. The use of stockpiles has led to potential fears about the ripple effect of a shortage on industries and individual consumers.
Here¡¯s a look at the situation.
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