US crude oil exports to Asia are set to hit multi-year lows after the Iran war disrupted global shipping and pushed the | Hanami
US crude oil exports to Asia are set to hit multi-year lows after the Iran war disrupted global shipping and pushed the cost to lease a tanker for the Pacific journey to a record of almost $80 million.
Asian refinery orders for US crude for delivery in November tumbled roughly 50% to 24 million to 26 million barrels this month sequentially, according to traders. If that pace of orders holds through the end of this month, it would mark a seven-year low, based on ship-tracking data from Kpler and Vortexa
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