According to CoinMeta, Morgan Stanley warns that global fuel supply pressures may persist until mid-2027. Despite some alleviation in supply disruptions related to wars, the global refined oil market may still be in a state of tight supply. Analyst Martin Lutz pointed out that the planned shutdowns of refineries around the world for maintenance are expected to reduce daily production by 3.4 million barrels, which is 2.5 times the normal level and exceeds the scale of production cuts by refineries in the Middle East and Russia. The nearly eight-month Middle East war and the intensification of the Russia-Ukraine conflict have exacerbated global fuel supply tensions, with exports of diesel and other fuels significantly decreasing, leading to price increases that exceed those of crude oil.