Woofun AI reports that Asian refineries are increasing spot purchases of US crude oil to mitigate supply risks amid escalating US-Iran tensions and disrupted shipping in the Strait of Hormuz. Industry executives confirm that negotiations for US crude spot trading have resumed between sellers and Asian buyers.

Kpler data indicates vessel traffic in the Strait of Hormuz fell approximately 60% week-over-week, with only 14 vessels, including four crude tankers, passing through last Sunday compared to over 100 daily before the conflict. While Windward noted the collapse of the US-escorted southern route, the US Department of Energy stated that over 8 million barrels still passed through last Sunday and affirmed continued military efforts to ensure smooth oil transportation.