When Hormuz got tense, Asian buyers immediately turned to look for U.S. crude oil—the resilience of this supply chain is more realistic than people thought.

Crypto news from Coin World: As risks in the Strait of Hormuz intensify, Asian buyers have restarted spot trading with U.S. crude oil. Due to renewed escalation in tensions between the U.S. and Iran, hopes of restoring crude flows through the Strait of Hormuz are expected to end abruptly at the start of this week. At least three executives and traders involved in U.S. oil sales and procurement told Bloomberg that they have restarted negotiations for U.S. spot cargoes. Since the start of the Iran war, Asian refineries have been seeking to diversify crude import sources and reduce reliance on Middle East oil. U.S. crude exports since March have reached a record high; the latest EIA data show that in April, U.S. oil exports rose 15% compared with March.