Strait of Hormuz blockade after US-Israeli strikes on Iran has paralyzed Asia's oil supply chain, triggering fuel hoarding and price hikes across the region. Singapore bunkering suppliers, the world's top port, now fulfill only partial orders citing supply shortages, while China's largest refiners halt diesel and gasoline exports to prioritize domestic demand. This follows South Korea's petrochemical producer Yeochun NCC declaring force majeure due to naphtha feedstock disruptions.

Governments scramble for solutions: Japan taps strategic reserves as it imports 90% of crude from the Middle East, while Bangladesh reduces fuel deliveries and urges citizens to avoid unnecessary trips. India negotiates with producers but faces limited alternatives as US cargoes remain distant. The crisis has driven oil prices to eye-watering levels, with Platts adjusting physical pricing mechanisms to reflect surging demand.

The crunch underscores Asia's vulnerability to Middle East supply shocks, forcing nations to balance energy security against economic disruption. With no immediate resolution in sight, consumers face sustained high prices and potential rationing measures across the region.