Asia's Refineries Prepare for War-Time Tactics Amid Oil Price Surge

Asian refiners are revisiting strategies they used at the start of the Iran conflict as oil prices surge and stockpiles dwindle. The widening Middle East war has pushed Brent crude towards $110 a barrel, causing premiums for grades from Africa to Latin America to spike.

As a result, Asian refineries are contemplating reducing their run rates and preparing for potential fuel export restrictions. This would mark a return to tactics employed during the early weeks of the conflict when processors across the region reduced activity due to insufficient crude supplies, and China and Thailand cut back on fuel shipments.