PNN – Published reports indicate a global fuel shortage crisis resulting from the consequences of US aggression against Iran.
According to the report of Pakistan News Network citing Reuters; the fuel oil market faces a risk of supply and inventory shortages in the third quarter of the year, as war-related tensions in the region have prompted refineries to prioritize the production of diesel, gasoline, and jet fuel.
The report notes that the energy consultancy Energy Aspects estimates the global supply deficit for fuel oil will reach 218,000 barrels per day.
Rystad Energy also announced that the supply of these products will continue to face severe shortages due to ongoing tensions in the region.
Asian nations are expected to be more affected by the consequences of this trend than other countries, given their heavy reliance on imports from the Persian Gulf region. Singapore, the world’s largest ship-refueling hub, sources more than half of its requirements—amounting to nearly one million barrels per day—through imports.