Countries looking farther afield for supplies as Strait of Hormuz closure continuesAn oil production platform is seen in the P9 Horizon field in the North Sea. (Photo: ImagePerson via Wikimedia Commons)A Thai oil refiner has made a rare purchase of North Sea crude oil as Asian processors scramble to find alternatives to Middle Eastern supplies stuck in the Persian Gulf. It is the first time a Thai company has bought North Sea Forties crude since at least 2019, when Bloomberg started tracking the data. The Iran war has effectively shut the critical Strait of Hormuz, choking off shipments of crude and fuels to global customers. North Sea crude is normally loaded onto supertankers for voyages to Asia, but the record cost of freight has made the bigger tankers economically unviable.

Source: Bangkok Post March 14, 2026 13:35 UTC