The recent Iran war has caused a significant increase in refined product markets in Asia, with major importing countries such as Australia and Indonesia potentially facing lower supplies and significantly higher prices. Australia is Asia's largest importer of refined products, with Indonesia ranking second with arrivals of around 600,000 bpd. Diesel makes up the largest component of Australia's imports, crucial for its mining operations and gasoline takes the largest portion of Indonesia's arrivals. The near total closure of the Strait of Hormuz is already leading to changes in product markets. Product prices have also surged, with Singapore gasoil ending at $143.88 a barrel on March 13, up 57% since the U.S. and Israel attacked Iran on February 28. Australia's major fuel suppliers are South Korea, Singapore, India and Japan, but also takes from China, Malaysia, Taiwan and Brunei. The question is whether governments will be prepared to restrict shipments if the war against Iran causes shortages.