March 16, 2026

Asian refiners step up arb buying as Mideast shock shows no quick end

While safe navigation through the Strait of Hormuz remains distant, distortions in the Dubai benchmark and limited SPR releases—despite reaching historical highs—are pushing refiners to secure more arbitrage cargoes to bridge the supply gap.

Cargo ship docked at industrial port with red-covered containers and red ore piles, city skyline in the background.

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