Iran War Splits Asian Diesel Market Into Haves and Have-Nots

The war in the Middle East has left Asian buyers grappling with a two-speed diesel economy, as poorer states face acute shortfalls, while wealthier nations with large refining industries enjoy sizable buffers.

Diesel — vital for transport, agriculture and industry — has been among the fuels most immediately affected by the conflict. In Asia, refining powerhouses China and South Korea curbed product exports after processors were forced to cut run rates. That triggered a drop in fuel flows to regional buyers, with importers such as Indonesia and the Philippines bearing the brunt.