NEW YORK, March 19. /TASS/. Asian countries have purchased a three-year record volume of oil from the United States as the conflict with Iran disrupts energy supplies from the Persian Gulf, Bloomberg reported.
Vessels carrying Middle Eastern energy resources to Asia have been stalled near the Strait of Hormuz due to the US-Israeli operation against Iran. As a result, in recent days Asian countries have increased purchases of US oil for April delivery to around 60 mln barrels. This marks the highest monthly level since April 2023. The volume of 60 mln barrels could still rise, as the window for purchasing April-loading cargoes from the United States remains open for a short time. The situation is driving up prices for US energy resources.
However, Bloomberg noted that oil purchased from the United States will not provide a quick solution to supply disruptions for Asian countries such as South Korea, Singapore, Thailand, and Japan. Cargoes scheduled for April loading typically reach their destinations only after about two months.
The United States typically exports around 110 mln barrels of oil per month, with about half going to Europe and more than one-third to Asia. Asian buyers purchased about 70 mln barrels of US oil in the first two months of this year.