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    "original_url": "https:\/\/www.nytimes.com\/interactive\/2026\/09\/29\/business\/iran-war-hormuz-asia-oil-gas.html?emc=edit_nn_20261001&nl=the-morning&segment_id=227346",
    "parsed_content": "How Asia Has Survived the Energy Crisis The biggest buyers of Middle Eastern energy lost much of their supply when the Strait of Hormuz effectively closed. Here\u2019s why severe shortages haven\u2019t materialized, at least for now. By Agnes Chang and River Akira Davis Sept. 29, 2026 \nAmount of crude oil Asia bought last summer\nSupplies not dependent\non the strait\nOil imported via\nthe Strait of Hormuz\nAmount of crude oil\nAsia bought last summer\nOil imported via\nthe Strait of Hormuz\nSupplies not\ndependent on\nthe strait\nAmount of crude oil Asia bought last summer\nSupplies not dependent\non the strait\nOil imported via\nthe Strait of Hormuz\n \nSupplies not dependent\non the strait\nSupplies not dependent\non the strait\nSupplies not\ndependent on\nthe strait\n \nOil that got through the\nStrait of Hormuz this summer\n+38 million metric tons\nSupplies not dependent\non the strait\nOil that got through the\nStrait of Hormuz this summer\n+38 million metric tons\nSupplies not dependent\non the strait\nOil that got through the\nStrait of Hormuz this summer\n+38 million metric tons\nSupplies not\ndependent on\nthe strait\n \nAdditional oil from\nthe Middle East,\nbypassing Hormuz\n+32 million metric tons\nSupplies not dependent\non the strait\nAdditional oil from the Middle East, bypassing Hormuz\n+32 million metric tons\nSupplies not\ndependent on\nthe strait\nAdditional oil from \nthe Middle East,\nbypassing Hormuz\n+32 million metric tons\nSupplies not dependent\non the strait\n \nRussia\n+9 million metric tons\nUnited States\n+7\nRest of world\n+10\nSupplies not dependent\non the strait\nRussia\n+9 million metric tons\nUnited States\n+7\nSupplies not dependent\non the strait\nRest of\nworld\n+10\nRussia\n+9 mil. metric tons\nU.S.\n+7\nRest of world\n+10\nSupplies not\ndependent on\nthe strait\n \nSupplies not dependent\non the strait\nRemaining shortfall\nSupplies not dependent\non the strait\nRemaining shortfall\nRemaining shortfall\nSupplies not\ndependent on\nthe strait\n The closure of the Strait of Hormuz cut off more than half of Asia\u2019s oil supply. But some oil still managed to pass through the strait this summer. Additional oil came from Gulf countries through pipelines and other routes that bypass the strait. Russia, the United States and other producers have increased shipments to Asia. And China cut its purchases. As a result, Asia has largely been able to secure enough oil. In the first several months after Iran shut the Strait of Hormuz, the world recoiled at the prospect of severe energy shortages.Governments across Asia declared states of emergency, and motorists lined up at gas stations as countries braced for fuel to run short. Oil and liquefied natural gas prices soared. But by July, shipments had rebounded significantly as countries found new suppliers, drew on reserves and, in some cases, simply used less energy.\u201cWhen the Strait of Hormuz shut, we had simply never seen anything like this at this scale, so there was a lot of panic,\u201d said Go Katayama, principal insight analyst for L.N.G. at the cargo tracking firm Kpler. But a little over half a year later, \u201cmost Asian countries have more or less found replacements.\u201dThe crisis exposed how heavily dependent many Asian economies had become on energy flowing through a single, vulnerable waterway.One lesson is that Asia\u2019s energy markets are more resilient than most expected. Another is that the region may not want to depend so heavily on energy from the Persian Gulf. In oil markets, China pulled back and Gulf States rerouted crude to bypass the Strait of HormuzThe shift is already visible in the oil market.When Iran effectively closed the Strait of Hormuz, roughly 10 million barrels a day of Middle Eastern crude disappeared from the market. Asian buyers turned partly to the United Arab Emirates and Saudi Arabia, which operate pipelines that allow some oil to reach customers without passing through the strait. Those routes have restored about a third of the lost daily supply, according to Kpler. In addition, some tankers have been getting through the strait with the help of the U.S. Navy.China has helped ease the scramble by buying less oil. In July and August, the country imported about a third less crude oil than during the same period last year. CHINA \nAsia Pacific\nMiddle East\nAmericas\nAfrica\nRussia\nEurope\nUnknown\nAsia Pacific\nMiddle East\nAmericas\nAfrica\nRussia\nEurope\nUnknown\nAsia Pacific\nMiddle East\nAmericas\nAfrica\nRussia\nEurope\nUnknown\n 2025 \nMiddle East\n\u201324 million\nmetric tons\nAmericas\n\u20134\nAfrica\nRussia\n\u20132\n+3\nUnknown\nChina bought \nless from nearly \nevery supplier.\n\u20130.2\nMiddle East\n\u201324 million\nmetric tons\nAmericas\n\u00ad\u20134\nAfrica\n\u20132\nRussia\n+3\nUnknown\nChina bought \nless from nearly \nevery supplier.\n\u20130.2\nMiddle East\n\u201324 million\nmetric tons\nAmericas\n\u20134\nAfrica\nRussia\n\u20132\n+3\nUnknown\nChina bought less from nearly every supplier.\n\u20130.2\n 2026 China has continued buying from the Gulf and increased purchases from Russia, but it has largely chosen not to replace all the supplies lost through the Strait of Hormuz. Instead, China has drawn on its enormous oil reserves, reduced some refinery operations and benefited from the country\u2019s growing use of electric vehicles.Other trade routes have shifted as well. In a sign of how seriously the disruption threatened energy supplies, the United States granted waivers allowing oil-strapped allies to purchase Russian oil as an exception to sanctions. After a brief period of slowing its oil purchases from Russia, India has started buying more again. INDIA \nAsia Pacific\nMiddle East\nAmericas\nAfrica\nRussia\nAsia Pacific\nMiddle East\nAmericas\nAfrica\nRussia\nAsia Pacific\nMiddle East\nAmericas\nAfrica\nRussia\n 2025 \nIndia bought nearly 50% more from Russia.\nMiddle East\n\u20139 million\nmetric tons\nAmericas\n+2\nAfrica\nRussia\n\u20130.9\n+7\nEurope\n+0.2\nUnknown\n+4\nIndia bought nearly 50% more from Russia.\nMiddle East\n\u20139 million\nmetric tons\nAmericas\n+2\nAfrica\n\u20130.9\nRussia\n+7\nEurope\n+0.2\nUnknown\n+4\nIndia bought nearly 50% more from Russia.\nMiddle East\n\u20139 million\nmetric tons\nAmericas\n+2\nAfrica\nRussia\n\u20130.9\n+7\nEurope\n+0.2\nUnknown\n+4\n 2026 Some Asian countries went farther afield for crude. Japan and South Korea turned increasingly to the United States, helping their imports rebound after they fell sharply earlier in the crisis. JAPAN \nAsia Pacific\nMiddle East\nAmericas\nAsia Pacific\nMiddle East\nAmericas\nAsia Pacific\nMiddle East\nAmericas\n 2025 \nAsia Pacific\n+0.05\nMiddle East\n\u20134 million\nmetric tons\nAmericas\n+6\nAfrica\n+0.07\nJapan bought over eight times as much from the United States this year as it did last year.\nUnknown\n+0.2\nAsia Pacific\n+0.05\nMiddle East\n\u20134 million\nmetric tons\nAmericas\n+6\nAfrica\n+0.07\nJapan bought over eight times as much from the United States this year as it did last year.\nUnknown\n+0.2\nAsia Pacific\n+0.05\nMiddle East\n\u20134 million\nmetric tons\nAmericas\n+6\nAfrica\n+0.07\nJapan bought over eight times as much from the United States this year as it did last year.\nUnknown\n+0.2\n 2026 U.S. shipments to Asia rose particularly quickly, to 2.3 million barrels a day in July from 1.5 million a year earlier.But there was no easy way to replace all the oil that once passed through the strait.The world has adjusted partly by using less of it. Kpler estimates that the war has reduced global oil demand by around 2 percent. Governments have also released oil from strategic reserves, while companies have drawn down their own stockpiles.\u201cWe\u2019re talking about 10 million barrels lost, so simply adding new suppliers isn\u2019t enough,\u201d said Muyu Xu, a senior crude oil analyst at Kpler. \u201cBut it has allowed countries to destroy significantly less demand,\u201d she said. In gas markets, the United States stepped in to fill Qatari supply losses \nAbout a quarter of Asia\u2019s L.N.G. supply last year was from Qatar and U.A.E.\nNearly all of it has stopped since the war.\nL.N.G. supplies\nlost after\nHormuz closed\nL.N.G. supplies not dependent\non the strait\nBut the United States, Canada and\nother countries have stepped in to fill the gap.\nExtra supply from\nthe United States\nRest of\nthe world\nCanada\n+3\n+2\n+5 million metric tons\nRemaining\nshortfall\nL.N.G. supplies\nnot dependent\non the strait\nAbout a quarter of \nAsia\u2019s L.N.G.supply \nlast year was from \nQatar and U.A.E.\nNearly all of \nit has stopped \nsince the war.\nL.N.G. supplies\nlost after\nHormuz closed\nExtra supply\nfrom the\nUnited States\n+5 million\nmetric tons\nBut the United States, \nCanada and other \ncountries have stepped \nin to fill the gap.\nCanada\n+2\nRest of\nthe world\n+3\nRemaining\nshortfall\n When it comes to natural gas, Asia is less reliant on the Gulf. But replacing those supplies has proved more painful. Gas is difficult to store, leaving countries with limited reserves.The steep drop in supply from Qatar, one of the world\u2019s biggest exporters of L.N.G., sent prices soaring. Wealthier Asian economies largely found replacement cargoes. India, Taiwan and South Korea were among those that bought more gas from the United States, Canada and other suppliers.\u201cThe story is really the growth of supply from the U.S.,\u201d Mr. Katayama of Kpler said. \u201cWithout that, we\u2019d be looking at a much more dismal environment.\u201d American exports, he added, have been setting records month after month. TAIWAN \nAsia Pacific\nMiddle East\nAmericas\nAfrica\nRussia\nAsia Pacific\nMiddle East\nAmericas\nAfrica\nRussia\n 2025 \nAsia Pacific\n+0.8\nMiddle East\n\u20132 million\nmetric tons\nAmericas\n+1\nAfrica\nRussia\n+0.06\n+0.07\nTaiwan more than made up for the loss of Qatari supply by buying more from other regions.\nAsia Pacific\n+0.8\nMiddle East\n\u20132 million\nmetric tons\nAmericas\n+1\nAfrica\n+0.06\nRussia\n+0.07\nTaiwan more than made up for the loss of Qatari supply by buying more from other regions.\n 2026 But poorer countries have struggled to replace gas from the Gulf. In Pakistan and Bangladesh, governments, companies and households have had to ration power and endure rolling blackouts as high prices forced them to curb energy use. PAKISTAN \nMiddle East\nQatar\nMiddle East\nQatar\n 2025 \nMiddle East\n\u20131 million\nmetric tons\nAmericas\n+0.07\nAfrica\n+0.1\nPakistan wasn\u2019t able to replace Qatar, its sole supplier last year.\nMiddle East\n\u20131 million\nmetric tons\nAmericas\n+0.07\nAfrica\n+0.1\nPakistan wasn\u2019t able to replace Qatar, its sole supplier last year.\n 2026 The future balance of supply and demand remains uncertainAlthough Asia has found enough new energy to overcome the worst fears of the crisis\u2019 early days, it is paying dearly for it.Customers in Asia buying L.N.G. for near-term use are paying more than double what they were a year earlier. Oil prices, which briefly surged to around $150 a barrel in April, remain at around $100. High gasoline prices have set off protests in several countries.And the next test is approaching as the standoff in the Persian Gulf continues.As winter approaches, Asian buyers will have to compete with Europe for available gas, which could keep prices elevated through at least the end of the year, according to Mr. Katayama. Asia\u2019s energy demand typically rises in winter \n2025\n26 million metric tons\nCrude oil imports\nHistorical\nrange\n2021-2025\n23\n20\n2026\nFEB. 28\n17\nJanuary\nApril\nJuly\nOctober\n2025\n26 million metric tons\nCrude oil imports\n23\n20\n2026\nHistorical\nrange\n2021-2025\nFEB. 28\n17\nJanuary\nApril\nJuly\nOctober\n \n6 million metric tons\n2025\nLiquefied natural gas imports\n5\n2026\nFEB. 28\n4\nJanuary\nApril\nJuly\nOctober\n2025\n6 million metric tons\nLiquefied natural\ngas imports\n5\n2026\nFEB. 28\n4\nJanuary\nApril\nJuly\nOctober\n Note: Volume values reflect 4-week moving averages through Sep. 6, 2026. Source: Kpler. Oil markets face a similar squeeze, as China has only recently resumed increasing its imports again. \u201cThe question is who can step in to fill the gap,\u201d Ms. Xu said.\u201cU.S. refineries are already running like there\u2019s no tomorrow \u2014 at basically 100 percent capacity,\u201d she said. That leaves the market balance \u201cvery fragile.\u201d \nAbout the data: Import quantities are based on Kpler\u2019s vessel and cargo data for July and August of this year and last year. \u201cUnknown\u201d refers to cargoes of unknown origin.",
    "published_at": "2026-09-29T08:54:09+00:00",
    "author_name": "Agnes Chang, River Akira Davis",
    "site_name": "The New York Times",
    "section": "Business",
    "publisher": "The New York Times Company",
    "ai_headline": "How Asia Has Survived the Energy Crisis",
    "ai_simplified_title": "Asia Navigates Energy Crisis After Hormuz Closure",
    "ai_excerpt": "Despite the effective closure of the Strait of Hormuz, Asia has largely avoided severe energy shortages by finding new suppliers, drawing on reserves, and reducing demand. The crisis highlighted the region's resilience and its heavy dependence on Middle Eastern energy.",
    "ai_subject_tags": [
        "Energy Crisis",
        "Strait of Hormuz",
        "Oil Market",
        "Natural Gas Market",
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