As we know, China has banned refined fuel shipments, restricting the world’s supply. Overnight, Korea capped exports at 2020 levels, and Thailand banned them.
As well, Singapore refinery runs have begun to wane, with capacity utilisation down meaningfully from 20-50% as it runs out of oil.
These shortages have not even arrived in Australia yet, but will over the next week or so as tanker volumes fall away.
