Japanese crude imports exceed 2025 average amid Middle East turmoil
- August set a new US import record, with 37% of Japan-bound imports sourced from the US, marking a fourth consecutive monthly 10-year high
- Red Sea crisis expected to reduce arrivals of cargoes in September as shipments are delayed because of the Suez diversion
- Saudi’s East-West Pipeline operations could prove crucial with more than 20% of imports discharged from tankers loading at Yanbu since March
No future stock draws are expected as Japan bets on imports. But escalating Red Sea risks could be a challenge
