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Iran's conflict shifts shipping fuel trends
Globally, the methods of purchasing ship fuel have changed due to the Iran war launched by the United States and Israel. Shipping companies have shifted towards immediate, short-term purchases to cope with price fluctuations and have replaced traditional supply locations, with decreased reliance on the Port of Fujeirah in the UAE. Despite over a 70% increase in ship fuel prices for more than seven months, companies are moving toward diversifying their supply sources to ensure security, along with increasing spot purchases to give owners flexibility in making buying decisions in response to daily market prices.
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