Foreign Media: Escalation of the Middle East Situation, Indonesia Will Increase Oil Imports from the United States
Owing to the continuous escalation of the war between the US and Israel against Iran, the Strait of Hormuz has actually been blockaded — global oil trade of one-fifth passes through this route — international oil prices have surged sharply.
Indonesia's Minister of Energy, Bahlil Lahadika, stated that Indonesia will shift its crude oil imports from the Middle East to the United States to ensure a stable supply. Currently, the Middle East accounts for 25% of Indonesia's total crude oil imports and 30% of its total liquefied petroleum gas (LPG) imports, with some LPG also being sourced from regions outside the Middle East.
In addition, due to the rising inflation expectations driven by the surge in oil prices, the market's expectation of the Federal Reserve resuming interest rate cuts has been further postponed to after September.
Original article: toutiao.com/article/1858653269715075/
Statement: This article represents the views of the author himself.