Tokyo | The war between Iran and a US-Israeli coalition is rapidly evolving into an energy crisis for Asia, threatening fuel shortages and price spikes across a region that depends heavily on Gulf oil and gas.
While G7 countries consider the largest release of strategic oil reserves in history, the economic shock is being felt most acutely in Asia, which relies on the Gulf for between 40 per cent and 80 per cent of seaborne crude imports.
