How U.S. Control of Venezuelan Oil Is Reshaping Asian Energy

Asian nations are scrambling to find new oil and gas suppliers as the Iran war stretches on and negotiations over the Strait of Hormuz remain murky at best.

Asia, the primary purchaser of oil and gas supplies out of the Gulf, has been hit hardest by the sudden blockage of approximately one-fifth of the world's crude trade. Energy prices are soaring throughout the region, and global oil reserves are running dangerously low.