Foreign Trade

Japan Recovers Crude Supply After Supertankers Released in Hormuz

Japan will receive a boost in its crude oil supply from the Middle East following the departure of two Japanese-owned supertankers carrying Saudi oil that were held in the Strait of Hormuz. On Monday, July 6, six VLCCs loaded with 12 million barrels of Middle Eastern crude, two chemical tankers, a car carrier, and a container ship linked to Japan exited the strait. The number of Japanese vessels in the Persian Gulf decreased to 26, down from 45 recorded at the start of the conflict.