Asian refiners buy more US crude as Hormuz remains blocked, traders say

At least four Asian refiners bought U.S. crude this week as the Strait of Hormuz stayed effectively closed, prompting alternative supply seeking delivery later this year. The shift to U.S. barrels underscores continued supply risk tied to Middle East shipping constraints, which is likely to support crude pricing volatility and regional refining margins.

Analysis

At least four Asian refiners bought U.S. crude this week as the Strait of Hormuz stayed effectively closed, prompting alternative supply seeking delivery later this year. The shift to U.S. barrels underscores continued supply risk tied to Middle East shipping constraints, which is likely to support crude pricing volatility and regional refining margins.