How many days can Asia's oil reserves last amid Iran conflict?
Asia braces for energy shock as Iran conflict widens
March 06, 2026
The Middle Eastern region is facing heightened geopolitical tensions as the US-Israel war with Iran enters its seventh day.
However, the conflict has a broader implication in the region, even affecting countries that are not directly involved.
Asia’s largest economies are struggling to secure energy supplies as Iran has officially blocked the Strait of Hormuz this week. The Strait is responsible for carrying 20% of the world’s oil and gas and 80% of oil destined for Asian markets.
Besides the blockade, the tensions in other Middle Eastern countries have also raised concerns as Asia sources 60% of its oil from Middle Eastern producers.
The most affected countries are China, India, Japan, and South Korea, whose 75% of the oil and 59% of the LNG flows through the chokepoint.
Responding to the current situation, countries are finding alternative oil sources and strategies to curb usage.
China has ordered major refineries to halt diesel and petrol exports to focus on domestic needs. Thailand, on the other hand, has suspended all crude and petroleum exports as of March 1.
How long can Asia’s oil last?
Amid the tensions, many nations are relying on “energy cushions” that are built for such crisis.
| Country | Strategic Oil Reserves (estimated days) |
| Japan | 254 days |
| South Korea | 208 days |
| China | Around 200 days |
| India | 74 days |
| Thailand | 61 days |
Increase in oil prices and economic anxiety
The blockade and closure of major refineries in the Gulf have triggered a massive price spike. Brent crude has reached $84 per barrel, while Singapore jet fuel prices experienced 70% increase, reaching a record $70 per barrel.
Beyond oil prices themselves, shipping prices have also increased. A larger tank now costs an unprecedented $436,000 per day, up from $100,000 in recent years.
Qatar warns that in case the tensions escalate further, the oil prices can accelerate towards $150 per barrel, threatening a global recession.
