SaltyNZ:
I take your point, and it is a fair one. But I don't think we're actually in the crisis yet. Right now, there's still plenty of fuel around ... the last of the ships to leave the Strait heading for Asia are only expected to arrive in the next couple of days. So the actual crisis is still several weeks away. Right now we're just getting the warning signs. How much it will cost to get out of a contract to supply something you don't have (because SK relies on Middle Eastern imports) will soon be moot.
According to other reports the last oil to transit Hormuz arrived at refinery ports on 13 March
https://businessdesk.co.nz/article/editors-picks/the-last-tankers-have-landed-now-nzs-fuel-crisis-begins-jet-fuel-consumers-feel-first-effects
Whether it has all been processed yet I do not know



