Asia hit with fastest rise in crude prices as Middle East supply shrinks
Iran tensions
Japan, reliant on the region for 90% of imports, looks elsewhere for diversification
Plumes of smoke rise from an oil facility in Fujairah, United Arab Emirates, on March 14. Middle Eastern crude oil prices have soared since the start of the Iran war. © AP
YUTA KOGA, MISA HAMA and MASASHI IJICHI
TOKYO — The price of crude oil has been rising since the start of the Iran war, with the spike in Asian benchmark Dubai crude particularly pronounced as countries reliant on Middle East oil compete for its dwindling supply.
