The last oil tankers to traverse the Strait of Hormuz before the outbreak of war will reach refineries in the coming days, in a pivotal moment analysts warn could herald physical shortages in Europe and the US within weeks.
The final ships to clear the strait before the Iran war began on February 28 are expected to reach their destination in Malaysia and Australia by April 20, intensifying the supply shock rippling across Asia.
But with Asian refineries responding by buying up a record number of crude oil cargoes that would normally have sailed to Europe and the US, analysts said refiners in some of the world’s wealthiest countries may soon also face shortages.
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