Australia’s vulnerability to liquid fuel shortages and price hikes has intensified amid reports China has told oil refiners to halt all fuel exports. This adds to continued global uncertainty about the duration of the Iran conflict and its impact upon oil supplies.
On Friday, the Australian Financial Review reported China had notified oil refiners to halt all exports, casting doubt over at least two cargoes due to be shipped to Australia.
Two transport ships in the Strait of Hormuz, the world’s most important transport route, have also been blown up making it likely future ships will not make this journey while the conflict continues.
This means Asian refineries like those in China are receiving significantly less oil. This reduction in supply mean these refining…
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Source theconversation.com
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