According to CoinMeta, with the Strait of Hormuz blocked, Asian refiners are seeking alternative supplies for deliveries later this year. At least four Asian refiners purchased American crude oil this week. As the Strait of Hormuz remains largely closed, both the United States and Iran claim control over it, and vessel traffic in the second half of the week fell below the average for this month. With no sign of the strait's shipping traffic returning to normal in the short term, the tightening fuel supply is expected to boost refining margins, prompting refiners to lock in crude oil inventories needed for the coming months from markets outside the Gulf region. South Korea’s GS Caltex purchased 2 million barrels of Mars crude oil from Shell, with delivery planned for November, at a price about $13 to $14 per barrel higher than the Dubai benchmark price in October. Japan’s third-largest refiner, Cosmo Energy Holdings, bought Mars crude oil from Tokio Oil, while Japan’s largest refiner, ENEOS, purchased 2 million barrels of WTI crude oil from Tokio Oil as well, with delivery scheduled for November at a price more than $10 per barrel higher than the WTI price in October.