An oil refinery operated by Thai Oil in Chon Buri.
Energy authorities and oil traders are preparing to import more crude oil from outside the Middle East as the escalating conflict disrupts two key shipping routes -- the Red Sea and the Strait of Hormuz.Before the war, Thailand relied heavily on the Middle East for crude oil, with 58% of imports coming mainly from the United Arab Emirates and Saudi Arabia. The remaining 42% was sourced from the US and Asia-Pacific.
Recent attacks on shipping in the Red Sea, claimed by Yemen's Houthi fighters, and the collapse of a temporary ceasefire between the US and Iran have forced traders to diversify supply routes.
An oil company executive who requested anonymity said the global energy outlook is tightening again and may prove more severe than earlier conflicts in the region.
Refiners and traders have already activated contingency plans, including buying crude from ships that left port before the latest disruptions.
