Asian refiners have increased purchases of Argentine Medanito crude after the Iran conflict disrupted Middle East supplies, traders said. Japanese and South Korean refineries have bought Medanito cargoes, with at least one shipment loaded earlier this month. Medanito is a WTI-like grade. Since the conflict began, U.S. crude sales into Asia for September loading have risen about 64%. Volumes of Argentine crude heading to Asia remain small versus other producers, but the buying highlights refiners

Asian refiners have increased purchases of Argentine Medanito crude after the Iran conflict disrupted Middle East supplies, traders said. Japanese and South Korean refineries have bought Medanito cargoes, with at least one shipment loaded earlier this month. Medanito is a WTI-like grade. Since the conflict began, U.S. crude sales into Asia for September loading have risen about 64%. Volumes of Argentine crude heading to Asia remain small versus other producers, but the buying highlights refiners’ push to diversify supplies and shore up energy security. Argentine government data show average crude exports this year of 215,000 bpd, mostly bound for the United States and Chile.