Asian Refiners Seek US Spot Crude as Hormuz Traffic Nears Standstill
Updated
Updated · Bloomberg · Jul 14
Asian Refiners Seek US Spot Crude as Hormuz Traffic Nears Standstill
2 articles · Updated · Bloomberg · Jul 14
Summary
At least three executives said Asian refiners have resumed negotiations for spot purchases of US crude cargoes, signaling a fresh shift in buying as supply routes come under strain.
The talks were triggered by intensifying hostilities between Washington and Tehran and a virtual standstill in observable traffic through the Strait of Hormuz.
The renewed interest points Asian buyers back to US barrels as they look for alternatives to Middle East flows threatened by the Iran conflict.