India faces greater exposure. It depends heavily on the Gulf region not just for crude oil but also for liquefied petroleum gas. (AI image) India and China, among the largest economies in Asia, are staring at a supply crunch for their energy needs as the Middle East conflict drags on. Asia’s biggest crude importers have …
Iran shipped millions of barrels of crude oil, all to China, through the Strait of Hormuz despite escalating tensions in the region following the outbreak of the US-Israel war with Iran on February 28, which has disrupted broader maritime traffic through the key energy corridor.At least 11.7 million barrels of Iranian crude have passed through …
Asia relies heavily on energy supplies from the Middle East, leaving the region particularly exposed. (AI image) Middle East tensions due to the ongoing conflict of Israel and the US with Iran have raised fears of the Strait of Hormuz – a key maritime route being closed – threatening crude oil and LNG supplies for …
Shipments of Russian oil to China are projected at about 2.07 million barrels per day for February delivery. (AI image) Even as US President Donald Trump wants the world to stop buying crude oil from Russia, China’s purchases of Russian crude are set to hit a new record in February. China’s procurement of Russian crude …