Energy and oilUpdated 4h ago
Asian refiners are turning back to Middle Eastern crude as regional flows recover.
Asian refiners are returning to Middle Eastern crude as regional supply flows recover from conflict-related disruption, Asharq Business with Bloomberg reports. The report says orders for U.S. crude are down nearly 50% in November; the figure concerns orders, not all U.S. exports or Asia's total imports. India illustrates the shift: Arab News reported that its September crude imports from the Middle East reached 2.7–3 million barrels a day, returning to pre-war levels. Imports through the Strait of Hormuz averaged about 1.3 million barrels a day, their highest level since February. Saudi supplies to India rose about 63% from August, with shipments via the Red Sea included in the Middle East total. Arab News also reported that Gulf exports had rebounded above pre-war levels despite a recent surge in Iranian attacks on shipping. Flows are recovering, but the rebound does not mean conflict-related shipping risks have ended.
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