Hormuz Crisis Pushes Asian Refiners to US Oil

North Asian refiners are actively securing U.S. crude supplies, shifting away from Middle Eastern oil due to the ongoing U.S.-Iran stalemate and reduced tanker traffic through the Strait of Hormuz. At least four Asia-based refiners have bought U.S. crude this week, as observed tanker transits at the chokepoint slumped further. This sustained disruption could elevate global crude oil prices, potentially supporting gold as a safe-haven asset and impacting Pakistan's import costs and the USD/PKR rate.

بحوالہ / Source: oilprice.com