Japanese Refiner Secures Mexican Oil to Bypass Hormuz Chaos

A Japanese refiner bought Mexican crude oil for the first time since 2023 as it navigates supply disruptions triggered by the Iran war and the near-closure of the Strait of Hormuz.

Vessels Eagle Kuantan and Eagle Kangar are set to load a combined 1 million barrels of Isthmus crude oil for Cosmo Energy Holdings Co. in coming days, according to a shipping report seen by Bloomberg. The oil, supplied by Petroleos Mexicanos’ trading arm PMI, is loading out of Pemex’s Pajaritos terminal, on the Atlantic coast.