Asia struggles to find fuel oil as Middle East exports plummet, sources say

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices dip after 5-day winning streak; set for weekly surge on Iran conflict Trump replaces Homeland Security chief Kristi Noem Wall Street ends lower on escalating Iran conflict, report of AI export curbs Trump says he must be involved in selecting Iran’s next leader (South Africa Philippines Nigeria) Asia struggles to find fuel oil as Middle East exports plummet, sources say By Commodities Published 03/06/2026, 12:54 AM Updated 03/06/2026, 01:00 AM Asia struggles to find fuel oil as Middle East exports plummet, sources say 0 IPCI 2.63% By Jeslyn Lerh SINGAPORE, March 6 - Fuel oil traders in Asia are struggling to secure alternative supply as the Iran war curtails shipments from key Middle Eastern suppliers through the Strait of Hormuz, prompting them to look to the West for replacement cargoes. The shortage of Middle Eastern fuel oil volumes is set to dent the supply of bunker fuel for powering ships, with prices at key bunker ports such as Singapore set for further hikes in coming weeks, raising refuelling costs for vessel owners. Those higher costs will translate into increased prices for companies transporting goods. Expectations for a growing shortage sparked a sharp rally in fuel oil markets this week, especially for high-sulphur fuel oil which typically comes from the Middle East. Volumes of fuel oil exports transiting the Strait of Hormuz and bound for Asia typically average 1.2 million metric tons per month, or about 246,000 barrels per day, Kpler data showed, with about 70% ending up in Southeast Asia. Overall fuel oil exports via the Strait of Hormuz usually total about 3.7 million tons per month, the data showed. Tanker transits are now about 90% lower than last week, Kpler’s analysis of vessel activity showed. "When such a large share of the global high-sulphur complex depends on a single chokepoint, even partial transit disruption can tighten balances quickly and amplify bunker volatility,"...