Oil markets across Europe and Africa are tightening significantly as Asia increases crude purchases to offset supply disruptions triggered by geopolitical tensions in the Middle East, according to Reuters.
The squeeze is largely driven by the ongoing disruption of shipments through the Strait of Hormuz, where conflict has removed roughly 10 million barrels per day, about 10% of global supply, forcing Asian buyers to aggressively seek alternative sources.
As a result, crude flows that would typically supply Europe are being diverted toward Asia, intensifying competition and pushing prices higher. Shipments from key exporters such as Nigeria and Angola, alongside European cargoes, have surged toward Asian markets, with total flows reaching about 3.72 million barrels per day in March.
The tightening has driven record price premiums in benchmark crude streams, including North Sea grades and U.S. exports to Europe, reflecting a market where “fewer barrels are available” and buyers are bidding aggressively to secure supply.
Analysts say the shift underscores a highly competitive global oil landscape, where Asia’s urgent demand is reshaping trade routes and leaving European and African buyers facing higher costs and reduced access to available crude.
