US crude surge cannot offset Hormuz cargo losses - Reuters commentary
A surge in US crude oil shipments to Asia is not enough to offset the loss of cargoes caused by the effective closure of the Strait of Hormuz, according to a Reuters commentary piece published on Tuesday.
Asia imported 63.56 million barrels of US crude in May, a record monthly volume, while Kpler data shows arrivals are expected to rise further in June and July, the report said.
However, at least 10 million barrels per day of oil supply remain unavailable as the conflict involving Iran continues, despite efforts by Saudi Arabia and the United Arab Emirates to reroute some exports outside the strait, the report said.






