South Korea Chemical Plants Declare "Force Majeure" - Singapore "No Bunker Fuel"
- Mar 5
- 1 min read
Source: Hal Turner
Asia’s energy crunch is spreading fast as disruption at the Strait of Hormuz ripples across fuel markets.
Singapore bunker hubs cut supply, China halted diesel & gasoline exports, S. Korea petrochem declares naphtha force majeure, while Japan (~90% Middle East crude) may tap their Strategic Petroleum Reserve (SPR).
(HT REMARKS: Right now, we are experiencing the largest loss of oil supply in history (3X bigger than the 1973 Arab oil embargo).
The level of complacency to me is staggering. (Prior playbooks do not apply!)
