Japan June Crude Import Price Jumps to Record 117,684 Yen Per Kilolitre on Hormuz Cutoff
Japan's customs-cleared crude oil import price rose to a record 117,684 yen ($722) per kilolitre in June, Ministry of Finance data showed Wednesday. The reading marks the third consecutive monthly record and represents an 84.7% increase from a year earlier, surpassing the May peak of 114,076 yen.
The surge is driven by supply disruptions stemming from the closure of the Strait of Hormuz. A broader increase in energy costs is raising overall import bills, potentially complicating monetary policy decisions for the central bank.
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@firstsquawkJAPAN JUNE TRADE BALANCE: -¥406.9B (EST -¥120B; PREV ¥391.8B); EXPORTS +19.3% Y/Y (EST +18.0%; PREV +16.8%); IMPORTS +25.4% Y/Y (EST +21.2%; PREV +12.5%); ADJUSTED TRADE BALANCE: -¥881.9B (EST -¥598.1B; PREV -¥221.1B)
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@financialjuice🔴 JAPANESE TOTAL TRADE BALANCE ACTUAL -406.9B (FORECAST -120B, PREVIOUS -391.8B) $MACRO
@financialjuice🔴 JAPANESE EXPORTS YOY ACTUAL 19.3% (FORECAST 18%, PREVIOUS 16.8%) $MACRO
@staunovo#Japan's crude oil import price reached a record high in yen terms in June, marking a third straight monthly record, Ministry of Finance data showed on Wednesday, as supply disruptions from the closure of the Strait of Hormuz drove energy p
@stbusinessdeskJapan imports jump to record high on oil price surge, complicating central bank policy