伊朗宣布在霍尔木兹海峡征收通行费，遭特朗普政府明确反对；随后沙特三艘超大型油轮（共600万桶原油）于协议签署数小时内通过该海峡，系近一周最大单次出口；船舶追踪显示多艘油轮结束隐蔽航行、恢复公开过峡；全球约8700万桶原油滞留在波斯湾54艘超大型油轮上，叠加美国可能放宽伊朗原油制裁，预计大量新增供应将涌入市场，直接压低国际原油与液化天然气价格。

India uses almost 90 lakh tonnes of bitumen a year, but domestic refineries produce only around 54 lakh tonnes, leaving the country reliant on imports from West Asia. More than 99% of those imports come from Iraq, UAE, Iran, Oman and Bahrain. Imports fell to 2.36 lakh tonnes in April 2026, down 21% from April 2025, as the West Asia conflict disrupted flows. The supply squeeze is lifting refineries’ effective demand for heavier crude, which yields more bitumen in processing.

Ukraine carried out a second air strike this week on an oil refinery in the Moscow region, sparking a fire, and also hit targets in Rostov and in Ukraine’s occupied territories. President Volodymyr Zelenskyy described the attacks as a justified response to Russian strikes on Ukrainian communities. The raids followed a major Russian attack on Kyiv involving ballistic missiles and drones after President Vladimir Putin warned of “systemic strikes.”

The United States is relying on a large network of ship-to-ship oil transfers to keep Gulf crude exports moving. Reuters said the approach closely resembles tactics long associated with Iran’s sanctions-evasion operations. The shift suggests shipping through the Strait of Hormuz has faced material disruption, pushing producers and consumers toward costlier and less efficient alternative logistics routes. The report did not cite specific production or inventory figures but pointed to mounting structural pressure on global spot crude flows.