Japan's Cosmo Energy Holds Middle East Crude Strategy Despite Iran War
🛢️ TOKYO — A mid-sized Japanese refiner just signaled Middle East crude is still the only viable path. 📌 LOOK CLOSER: Cosmo holding Middle East focus despite the war signals Asian buyers never fully diversified — they absorbed the shock without switching suppliers. That dependency persists into the MOU window, meaning Iranian crude re-entry competes with Gulf barrels Japan never stopped needing. Hormuz traffic normalization isn't just geopolitical theater; it's Cosmo's supply chain.
