Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Strategic reserves are insufficient, and hundreds of gas stations in Australia have run out of fuel.
Australia is currently facing a fuel supply crisis. As the Iran-U.S. conflict enters its fourth week and shipping through the Strait of Hormuz is disrupted, this country heavily dependent on imported refined oil is experiencing an unprecedented energy shock, with hundreds of gas stations running out of supplies and reserves running low.
Energy Minister Chris Bowen disclosed to the federal parliament this Monday that more than 109 gas stations in Victoria are out of at least one type of fuel, 47 stations in Queensland have run out of diesel, and 32 stations lack regular unleaded gasoline. New South Wales has 37 stations completely out of supply.
Meanwhile, Bowen also revealed that six oil tankers from Malaysia, Singapore, and South Korea scheduled to arrive next month have been canceled or delayed, and the federal government is urgently seeking alternative sources.
Fuel reserve data is also alarming. Bowen stated that current gasoline stocks are only enough to last about 38 days, with diesel and aviation fuel reserves lasting just 30 days. The national farming community has already issued an alert, warning that diesel and fertilizer stocks are depleting, coinciding with critical periods for agricultural production.
Supply disruptions are spreading, and multiple states are in crisis
The geographic scope of the crisis is expanding. New South Wales Premier Chris Minns warned earlier that 105 gas stations in the state have completely exhausted their diesel supplies. According to The Guardian, Bowen has not disclosed the situation in Western Australia, the Northern Territory, South Australia, or Tasmania, suggesting the actual number of affected gas stations may be much higher than publicly reported.
The cancellation or delay of six oil tankers has directly heightened market concerns over future supplies. In an interview with the Australian Broadcasting Corporation, Bowen said, “Oil flowing to Asian refineries has slowed, which has a downward impact on us.” He also attempted to reassure the market, stating that supply disruptions are more likely to occur as “phase fluctuations” rather than sudden, complete shutdowns, and that the government will work with refiners and importers to minimize the impact.
Reserves are insufficient, revealing underlying issues in energy policy
The root cause of this crisis lies in Australia’s longstanding energy security vulnerabilities. According to international standards, Australia should maintain a 90-day strategic fuel reserve, but at the time of the crisis, actual reserves were only about 30 days, far below safety standards.
Analysts point out that Australia’s heavy reliance on imported refined oil, combined with aggressive commitments to green energy transition, leaves it with little buffer when the Strait of Hormuz—a critical global energy corridor—is blocked.
Adding to the woes, a large domestic fertilizer plant has been shut down for two months due to damage, further exacerbating global fertilizer supply tensions, with initial chain reactions affecting agricultural production already evident.
Risk warning and disclaimer
Market risks are present; invest cautiously. This article does not constitute personal investment advice and does not consider individual users’ specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions herein are suitable for their particular circumstances. Invest at your own risk.