oil trade

Asia’s diesel exports to Africa are set to hit a four-and-a-half-year high in August as buyers replace falling Middle East supply disrupted by shipping risks.

Shipping through the Strait of Hormuz slowed over the weekend after tanker attacks, with only five commodity vessels crossing on Saturday and none on Sunday.

At least four Asian refiners bought US crude this week as the blocked Strait of Hormuz forced them to secure alternative supplies beyond the Gulf.

Russian crude made up a record 50.83 percent of India’s oil imports in July, or 2.47 million bpd, even as US tariff threats loom.

Uganda has decided to import its oil through Tanzania instead of Kenya, following a long-standing dispute over a government-to-government fuel deal. The move could cost Kenya millions of dollars in …