How Brazil Became Asia’s Emergency Oil Supplier

Asia is trying to save itself any way it can. With Gulf barrels harder to get, buyers are pulling crude from wherever it is still available – even from as far away as Brazil. The barrels are alike to those stranded by the Strait of Hormuz blockage, Asia’s appetite for them need is soaring. The only problem is that they have to cross half the world first. The timing of the US-Iran war could hardly be better for Brazil. Its crude exports reached a record 2.3 million b/d in March and stayed at the same level in April, just as China was…