Asia's crude oil imports tick up in June but uncertainty reigns

Asia's crude oil imports saw a slight June uptick but remain near decade lows, impacted by the Iran conflict disrupting Middle East shipments. Despite a modest recovery, volumes are significantly down from pre-war levels, with the Strait of Hormuz's uncertain future and China's reduced buying adding to market volatility. Refined product prices remain elevated, hinting at ongoing supply chain adjustments.

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