The International Energy Agency warns that the global energy market may face a "Black April," Huibopu hits the daily limit.

On April 7, oil and gas stocks traded with volatility but moved higher in the afternoon. Huipo Petroleum (002554.SZ) hit the daily limit, and Guanghui Energy (600256.SH), Baomo Co., Ltd. (002476.SZ), Shouhua Gas (300483.SZ), Hongtong Gas (605169.SH), Tongyuan Petroleum (300164.SZ), and others followed suit.

On the news front, on the same day WTI crude oil briefly broke above $116 per barrel. As of the time of this report, it was up 2.51%. Brent crude oil broke above $111 per barrel.

According to a report by CCTV News, the Executive Director of the International Energy Agency, Fatih Birol, said that the severity of the current global energy crisis is “more serious than the combined energy crises of 1973, 1979, and 2022.” He predicted that the crisis will accelerate the development and growth of renewable energy, nuclear power, and electric vehicles.

In a report from France on the 7th, Birol said in an interview that countries should “save energy as cautiously as possible” in the short term, because the global energy market could face a “Black April.” “If the strait remains closed throughout April, the shortage of crude oil and refined oil products will be more than double that of March.”

On February 28, the United States and Israel launched a military strike on Iran, prompting Iran’s retaliatory response. The Strait of Hormuz, an important energy transportation chokepoint, was severely disrupted, leading to a surge in fuel prices. Birol predicted, “We will soon turn to renewable energy—maybe within a few months.” He said that the pace of technological progress in the clean energy sector will be far faster than in other areas, and the rollout of renewable energy such as solar and wind power may be particularly rapid. “The global energy system architecture is changing.” He added, “This (change process) will take several years. It is not a way to resolve the current crisis, but the energy geopolitical landscape will be profoundly altered.”