Singapore oil inflows throw up fuel warning light for Australia

Since the war in the Middle East began on the 28th of February, energy flows across the globe have changed dramatically.

In the early weeks, there was little to no real impact on the physical world, as the lag effect, driven by the time it takes for a tanker to journey from the Persian Gulf to the refineries of Asia, insulated supplies from the war’s impact.

This was illustrated by a somewhat oversimplified map from JP Morgan, which estimated how long it would take for the impact of the throttling of traffic through the Strait of Hormuz to be felt by various economies.