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Global Business News

The Economic Times

Global Business / The Economic Times

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Asian buyers snap up US crude, adding stress to tight market

Asian refiners are set to nearly double purchases of US crude for September as Middle Eastern oil prices surge amid the Iran war and Strait of Hormuz disruption. More than 40 million barrels could head to Asia, tightening US crude supplies, pressuring domestic refiners and potentially keeping already-high American fuel prices elevated.

25 Aug 2026 9:13 am