The latest increase followed fresh military action involving the US and Iran as well as attacks by Iran-backed Houthis on Saudi Arabia, adding to uncertainty over energy supplies from the region
Shipments from Asia, including India, are expected to total between 1.8 million and 2 million metric tonnes, equivalent to roughly 13.4 million to 14.9 million barrels, during August
Crude prices have risen more than 50 per cent this year as the six-month conflict between the US and Iran has disrupted shipments of crude oil and refined petroleum products from the Middle East
The assessment comes as energy markets contend with disruption around the Strait of Hormuz and the possibility of continued instability in the Red Sea
