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The ongoing conflict between the United States and Iran has severely impacted refined fuel exports in Asia, with jet fuel and diesel shipments plummeting to multi-year lows due to the effective closure of the Strait of Hormuz, leading to significant price increases and supply shortages in the region. #OilMarket #FuelSupply #Geopolitics #AU #US #IR #CN #IN #AE #JP #KR
www.reuters.com
Asia exports of refined fuels plunge amid Hormuz closure
LAUNCESTON, Australia, May 7 (Reuters) - While prices for crude oil futures have surged and slumped in line with the latest headlines about the war between the United States and Iran, the impact of the crisis in physical markets for refined fuels has been worsening.