China and India are increasingly turning to Brazil for oil supplies due to disruptions in the Strait of Hormuz caused by the US-Iran conflict. Brazil's exports to Asia have surged, with China and India significantly increasing purchases, though it's not a complete replacement for Middle Eastern crude.
Indian refiners increased oil imports from Venezuela, Brazil, Angola, and Nigeria due to Middle East supply disruptions caused by the Israel-US war. Russia remained a key supplier, though its share decreased. Overall imports were steady in April but down year-on-year.
Indian refiners are shifting crude oil imports from the Middle East to Latin America and Africa due to shipping disruptions in the Strait of Hormuz caused by the Israeli-U.S. war. Despite reduced Russian oil imports in April, Russia remains India's top supplier, followed by the UAE and Saudi Arabia.
Singapore has sharply increased imports of Russian petroleum products, with April volumes more than doubling the 2025 average monthly level. The surge follows supply disruptions from the Middle East due to the conflict around Iran and restrictions on shipping through the Strait of Hormuz. Persian Gulf supplies fell from 522,000 to 336,000 barrels per day, while Russian imports rose to 585,000 barrels, potentially reaching the highest since 2016.
China is poised to import a record 800,000 tonnes of US ethane in April, up 60% from normal levels, as petrochemical firms pivot to alternative feedstocks following Middle East conflict disruptions that have curtailed naphtha and LPG supplies. The surge comes as ethane margins outperform naphtha by roughly tenfold, with new domestic processing capacity further driving demand. The timing coincides with a planned mid-May visit by Donald Trump to Beijing where energy trade is expected to feature in discussions.
