Traders in Singapore, the world’s biggest ship refuelling port, are replacing lost Middle Eastern cargoes with Russian oil as the war in Iran continues to disrupt global energy markets.
Imports of Russian fuel oil to Singapore jumped following the outbreak of the conflict, with the volume in April already more than double the average monthly amount in 2025, according to data group Vortexa.
The conflict and blockade of the Strait of Hormuz have driven up energy prices globally and sparked shortages of key products including jet and shipping fuel, known as bunker.
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