Yahoo Finance | EN590 Commodities
EN590 Commodities GroupCrude Oil 2026-06-18T10:30:00.000Z
Crude cargo arrivals in Asia from the Middle East could accelerate in the coming weeks as more than 60 million barrels of oil stuck in the Persian Gulf prepare to exit the Strait of Hormuz and head to Asian markets once the chokepoint reopens to traffic. About 62 million barrels of crude oil on nearly three dozen supertankers are expected to make their way to Asia within weeks after the Strait reopens, according to Signal Group data carried byBloomberg. Asia, which felt the supply shock first and the most as early as in March, could now see a wave of much-delayed crude supply that would weigh on prices. Refiners in Asia, including China,have slashedrun rates in response to the loss of supply from the Middle East and the high prices to procure alternative cargoes. The supply waiting to exit
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