Tokyo/Singapore — At least some buyers of Iranian supplies in the world’s biggest oil market are considering acquiescing to US President Donald Trump’s demands. As the American administration piles pressure on its allies to entirely halt purchases of Iranian supplies, Japan’s Fuji Oil and Taiwan’s Formosa Petrochemical Corp are considering ending imports from the Opec member — though they are yet to make a final decision. South Korea has already put some imports on hold while Emirates National Oil Co in the United Arab Emirates is trying alternatives to cargoes from the Islamic Republic. The US wants allies to end all imports of Iranian oil by a November 4 deadline and is not offering extensions or waivers to that timeline, as it targets the Persian Gulf state’s economic lifeline with sanctions over its nuclear programme. This has boosted speculation that a global shortage will be exacerbated, lifting prices. Fuji Oil will probably replace its cargoes with those from Saudi Arabia, Q...
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