Wave of Persian Gulf oil set to leave Asian refiners swamped

An impending wave of oil that’s been trapped inside the Strait of Hormuz is set to be unleashed on Asia, which would suddenly swamp a region that had managed to make up for lost supply in recent weeks.Around 31 supertankers, capable of carrying about 62 million barrels of crude, are stuck inside the Persian Gulf and set to sail out once the waterway opens up, according to Signal Group data. The actual tally may still be higher yet, with some vessels possibly turning their satellite transponders off.The gush could happen soon after the U.S. and Iran signed an interim deal that will see the strait reopen.
The oil would take about one week to get to India, or three weeks to East Asia.
Information from The Japan Times. Edited by: Noticias Today.
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