Australia secures fuel supply guarantees from Japan, Singapore and South Korea amid Hormuz closure
AI summaryAustralia has received assurances from key Asian fuel exporters—Japan, Singapore and South Korea—that normal fuel supplies will continue despite the closure of the Strait of Hormuz. The guarantees come as Australia, which imports about 90% of its refined fuel, faces rising prices and shortages. The government is also diversifying sources and using LNG exports as leverage in negotiations.