Goldman Sachs notes that Asian economies source about half of fuel from Persian Gulf, with South Korea and Singapore relying on ~75%.
Despite supply strain, shortages are limited as countries tap alternative suppliers, draw inventories, and curb exports, though buffers may be temporary.
Petrochemical feedstocks like naphtha and LPG face acute tightness, while diesel and jet fuel prices have surged globally.
India and Thailand reported fuel rationing; China and Japan’s large strategic reserves help them weather the shock.