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The ongoing crisis between the U.S. and Iran has led to significant declines in Asia's refined fuel exports, particularly jet fuel and diesel, as the effective blockage of the Strait of Hormuz impacts supply, resulting in prices soaring while overall export volumes hit multi-year lows. #OilMarket #RefinedProducts #EnergyCrisis #AU #US #IR #AE #IN #CN #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.