Energy crisis sweeps across Asian markets, causing urgent shortages from fuel supply to residential gas usage

Golden Ten Data reported on March 5 that Asia's increasingly severe energy crisis is affecting every corner of the oil market. Suppliers ranging from marine fuel to cooking gas have begun to cut sales in response to shrinking inventories. According to informed sources, marine fuel suppliers in Singapore, the world's largest ship refueling port, have notified clients that due to reduced oil volumes from their own suppliers, they will only fulfill part of their established orders. In South Korea, petrochemical producer Yeochun NCC has declared force majeure on some of its sales due to interruptions in naphtha feedstock deliveries. India, one of the most severely affected markets, is negotiating with producers. However, since US supplies are too distant, there are almost no alternative options to fill the gap, meaning some countries may be forced to implement some form of rationing. Facing painful high oil and fuel prices, Bangladesh is already preparing to reduce supply at gas stations and has asked citizens to avoid unnecessary private travel.