A rare U.S. strategic oil shipment to the Philippines underscores how the Hormuz crisis is forcing Asia to seek crude supplies outside the Middle East.

The US Navy announced the resumption of naval escort operations in the Strait of Hormuz Tuesday, with the intention of facilitating merchant shipping in the region.

The US Strategic Petroleum Reserve shipped 616,000 barrels of crude to the Philippines, its first Asia-bound cargo since 2022, as part of a 172M barrel release.

A rare U.S. strategic oil shipment to the Philippines underscores how the Hormuz crisis is forcing Asia to seek crude supplies outside the Middle East.

A cargo of oil from the US Strategic Petroleum Reserve headed to California this month for the first time ever, ship tracking service Kpler said. The

Oil prices have retreated from recent highs as markets price in hopes of partial Hormuz reopening, while record U.S. crude exports and massive SPR releases temporarily ease global…

The Philippines received its first Iranian crude cargo after the Hormuz blockade cut off 98% of its oil supply, with delivery routed via a ship-to-ship transfer near Singapore.