The US-Israeli war on Iran threatens global energy. How is Asia preparing?
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Amidst escalating tensions between the US-Israeli alliance and Iran, Asian economies are bracing for potential energy shocks. Countries like South Korea and Japan, heavily reliant on Middle Eastern energy imports, are particularly vulnerable. China, the world's second-largest oil consumer, has raised fuel prices and instructed state-owned oil companies to secure stable supplies, while also maintaining substantial strategic oil reserves. Japan, with significant oil reserves, has instructed national storage sites to prepare for a possible release, a measure previously taken during the Gulf War and after the 2011 earthquake. These actions across Asia reflect concerns that a disruption in energy supplies could trigger economic instability.
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