"Iranian crude ships to Asian buyers (primarily China, India) via transshipment hubs in Oman and Malaysia, where tanker-to-tanker transfers obscure origin. Buyers pay $10–15/barrel discounts to Brent; traders pocket the spread."

"The whirlwind of uncertainty in the oil markets has continued this week as the United States-Israel war on Iran approaches the one-month mark. The Strait of Hormuz remains effectively closed, and the impact of the global energy crisis is broadening. From Asia to Europe and beyond, the economic outlook is darkening."

"The article documented Trump's pattern of reversals: a 48-hour ultimatum for Iran to reopen the Strait of Hormuz, extended to five days on Monday, then extended again to 10 April with a promise to hold off from attacking Iran's energy infrastructure."

"On Monday, oil markets rallied following the first extension of Trump's deadline from 48 hours to five days. Then, when Trump on Thursday extended his deadline for Iran to reopen the Strait of Hormuz until April 6, stock prices rebounded even further – and those investors who had bought in profited."

"That is because, of course, we have more players here. That there are parties to the conflict with very unique and complex objectives means that the US cannot unilaterally retreat on its point."

"Trump extended a 48-hour Iran deadline to five days on Monday 24 March, then to 10 April on Thursday 27 March, with a parallel promise to delay strikes on Iranian energy infrastructure for 10 days."

"Investors are buying equities and energy contracts on the assumption that Trump will continue to retreat, mirroring his pattern of tariff threat reversals over the preceding year."

"Komileva notes that markets have rebounded less vigorously after Iran-related policy shifts than after tariff reversals—suggesting traders themselves recognise that geopolitical actors (Iran, Israel, regional powers) operate on different logic than trade negotiators."

"The Strait of Hormuz remains closed one month into the conflict."

"Japan has begun releasing 80 million barrels from national reserves—enough for 45 days."

"The OECD projects UK inflation will hit 4 percent this year due to the conflict."

"Japan's drawdown of 80 million barrels for 45 days of supply is a crisis-management measure, not a hedge."

"The OECD warning of 4 percent UK inflation reflects genuine supply shock, not speculation."

"UK Foreign Secretary Yvette Cooper stated at the G7 meeting that 「Iran cannot be allowed to hold the global economy hostage.」"

"The article does not detail Iran's stated conditions for reopening the Strait, but the fact that it remains closed after one month suggests Iran is not treating Trump's deadline extensions as meaningful."

"The source material mentions a 「US-Israel war on Iran」 but does not specify Israeli objectives or constraints."

"Estimates place annual Iranian oil exports at 1.3–1.8 million barrels per day—roughly 50% above official JCPOA levels—moving through networks involving state-linked entities, private trading houses, and increasingly, Western-licensed financial intermediaries."

"For Iran, this isn't peripheral. Oil revenues fund the Revolutionary Guard Corps, ballistic missile programs, and proxy forces across the Levant."