Asian state-owned oil refiners are struggling to secure supertankers for Persian Gulf crude deliveries due to tripled freight rates and a lack of safety guarantees for transiting the Strait of Hormuz.

PetroChina and Indian Oil faced difficulties securing tankers for Iraqi crude. PetroChina and Indian Oil Corp could not find vessels. Sinochem is searching for a tanker. High…

More than 60 million barrels of crude stranded in the Persian Gulf are expected to head to Asia after the reopening of the Strait of Hormuz, potentially easing supply concerns and…