A rare US strategic petroleum reserve cargo heads to the Philippines as Middle East supply routes face prolonged disruptions.
A US-flagged tanker carrying crude from the Strategic Petroleum Reserve has departed for the Philippines, marking the first such shipment to Asia since late 2022. The move reflects shifting global oil flows due to restricted tanker traffic in the Strait of Hormuz amid tensions between Iran and the US.
Prior to the conflict, Asia relied on the Middle East for up to 80% of its crude imports, with the Philippines among the key importers. The rerouting underscores how geopolitical risks are reshaping traditional supply chains and trade patterns.
No immediate market reaction was reported, but the shipment signals potential supply adjustments as regional disruptions persist.