Oil output from Persian Gulf nations is ramping up so quickly as the Strait of Hormuz reopens that Asian refiners, already adequately supplied, are pushing some crude to destinations as far afield as California.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-06-30/growing-oil-glut-spurs-asian-refiners-to-offer-cargoes-to-the-us)