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  • 20 May 2026
  • Market: Crude, Oil Products

This Insight Paper draws on the latest analysis from our flagship oil market business intelligence reports, Argus Global Markets and Petroleum Argus, and looks at how, more than two months in, the Iran war is continuing to change trading behaviour and trade flow in oil markets, and at where the next risks might emerge as inventories are depleted.

The paper will look into:

  • How a system of shuttle tankers is helping get some oil out of the strait of Hormuz
  • Why Chinese and European refiners have been cutting their intake of Saudi crude
  • What steps the Trump administration is considering to address rising domestic gasoline prices
  • How crude export restrictions among some Asian producers are forcing the region’s importers to find new supply sources

Download the insight paper

About Argus Media

As a leading authority on energy and commodity markets across the globe, Argus is uniquely positioned to provide in-depth analysis and expert thought leadership. Our white papers are carefully written by Argus specialists from across our company. Each white paper focuses on a topical theme, exploring areas such supply and demand dynamics, price trends, trading activity and changing regulations. We always aim to provide a balanced view, underpinned by data and insight gathered first hand from the market.