Asia's Russian fuel imports hit record highs as Middle East disruption reshapes energy markets.

Asia's Russian fuel imports hit record highs as Middle East disruption reshapes energy markets. The region is set to receive over three million tons of Russian fuel oil in March following U.S. sanctions relief, with Southeast Asia and China leading demand. The influx addresses critical supply shortages caused by Middle Eastern refinery shutdowns and Strait of Hormuz disruptions. Singapore, Malaysia, and eastern China's Shandong province are primary destinations. High-sulphur fuel oil premiums eased to around seventy dollars per metric ton after the U.S. waiver, down from recent record highs exceeding seventy-six dollars. However, analysts warn this Russian supply provides only temporary relief if Middle Eastern disruptions persist. The market structure shows firm backwardation through year-end, signaling continued supply tightness and elevated energy costs ahead.