Asian crude oil importers, including China, Japan, and South Korea, are purchasing oil from Argentina to offset supply losses from the Middle East due to the ongoing Iran war. This shift allows them to avoid the Strait of Hormuz and other geopolitical chokepoints. Argentina's Medanito crude, comparable to U.S. West Texas Intermediate (WTI) and sold at a $1-$2 per barrel discount to WTI, has seen increased demand, with sales to Asia jumping significantly since 2024. Other South American producers like Brazil and Venezuela are also gaining popularity among Asian refiners seeking to diversify supply.