Japan's May crude import price hits record high in yen terms amid Mideast war

Japan's crude oil import price hit a record high in yen terms in May, rising above April levels as crude prices surged after supply disruptions tied to the closure of the Strait of Hormuz. The move points to higher input costs for Japan and potential inflationary pressure, with the shock driven by geopolitical supply risk rather than domestic demand.

Analysis

Japan's crude oil import price hit a record high in yen terms in May, rising above April levels as crude prices surged after supply disruptions tied to the closure of the Strait of Hormuz. The move points to higher input costs for Japan and potential inflationary pressure, with the shock driven by geopolitical supply risk rather than domestic demand.