USGC Crude to Asia Surges on Hormuz Crisis

Asia refiners triple USGC crude buys amid Hormuz woes: Platts data / Asian fixtures triple to 9.87 million mt amid Hormuz crisis / WTI Gulf Coast premium hits $3.55/barrel

Jun 02, 2026

Asian refiners more than tripled their purchases of US Gulf Coast crude in March as the shipping disruption at the Strait of Hormuz forced a rapid shift away from traditional Middle Eastern suppliers, tightening prompt supply along the US Gulf Coast and lifting regional price premiums. Fixtures of US Gulf Coast crude to Asia surged to 9.87 million metric tons in March, according to Fixtures data — more than triple the volumes seen in February, as buyers scrambled to replace disrupted flows from the Persian Gulf. The data show destinations including China, Japan, South Korea and the Far East. Fixtures to the Far East include UKC options. The rush for alternative barrels has pushed WTI Gulf Coast premiums to $3.55/barrel over Midland WTI, driven by record demand for sour crude...

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