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Australia Could Face Fuel 'Bumps' as Tankers Cancelled

On Sunday, Energy Minister Chris Bowen revealed six tankers bound for Australia were cancelled amid the Middle East war, warning of possible 'bumps in supply' if the conflict continues.
After US and Israeli strikes, Iran closed the Strait of Hormuz, disrupting crude flows that supply 60 to 70 per cent of Asia's refineries and forcing the Eagle Vellore to risk passage despite IRGC warnings.
Australia's two refineries are operating at full capacity while Exxon Mobil booked Largo Eagle and Nord Ventura to ship 600,000 barrels from the Gulf of Mexico this month.
The federal government says deliveries are secure until mid-April, with petrol prices over $2.50 a litre and diesel surpassed $3 in some locations, while Chris Bowen said, 'Some of those have already been replaced by the importers and refiners with other sources.'
It takes about 10 to 20 days for tankers from Asian refiners to reach Australia, while South Korea's export cap at 2025 levels and higher logistics costs pressure prices in the coming weeks.

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11 Articles

The Canberra Times

+2 Reposted by 2 other sources

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'Bumps' but no fuel shock yet as tankers cancelled

The war in the Middle East has forced six fuel shipments to Australia to be cancelled, but a...

2 days ago·Canberra, Australia

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Australian Financial Review

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Bowen warns of future ‘bumps’ in oil supplies as six ships cancelled

The energy minister says fuel disruptions can be expected, but the government is currently not planning to invoke emergency rationing powers.

2 days ago·Sydney, Australia

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SBS News

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Australia to face price 'bumps' but not fuel shortage despite oil tanker shipment cancellations

Six tankers scheduled to deliver oil to Australia have had their voyages cancelled as impacts from the war in the Middle East begin to bite.

2 days ago·Sydney, Australia

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ABC Australia

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Australia facing 'crunch time' as oil shortages begin to hit Asian suppliers

Australia is yet to directly feel the impact of supply shortages caused by the Iran war. But that's set to change in the coming weeks, with oil supply shortages now hitting the country's fuel suppliers in Asia.

2 days ago·Australia

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PerthNow

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canberradaily.com.au

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Australia could face fuel 'bumps' as tankers cancelled

The war in the Middle East is continuing to wreak havoc on global supply chains, with some of Australia's fuel imports now in the firing line.

2 days ago·City of Perth, Australia

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The West Australian

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Middle East war halts fuel shipments bound for Australia

Global tensions are impacting fuel deliveries to Australia, with Chris Bowen confirming shipments have been delayed amid the Strait of Hormuz disruption.

2 days ago·Australia

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