Energy shortages rippling through Australian supply chains

16th March 2026

With supplies of crude oil from the Gulf dwindling, local prices of petroleum products imported from the Asia-Pacific region have already risen more sharply than movements in crude oil prices would suggest. While higher prices should in principle attract greater inflows of petroleum products from other parts of the world, China’s export ban could keep prices higher for longer, magnifying the inflationary consequences.

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Energy shortages rippling through Australian supply chains

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