Oil prices climb as traders assess Middle East developments
Iran's Revolutionary Guards said Tuesday that naval mines had prevented three tankers attempting to pass through the Strait of Hormuz.
Japan experienced a trade deficit of 2.82 trillion yen ($17.8 billion) during the first half of fiscal year 2026, driven by rising crude oil prices and turmoil in the Middle East, according to government data released Wednesday. The deficit widened due to a weaker yen, nearly doubling compared to the previous year, and marked the 11th consecutive half-year deficit period.
Imports surged 20.4 percent to 66.28 trillion yen, reaching a record high for a half-year period, while exports grew 18.4 percent to 63.46 trillion yen, also a record high. Exports of semiconductor-related electronic components jumped 63.2 percent, while imports of the same items increased 50.8 percent. Notably, crude oil imports from the United States more than quintupled in volume and nearly nonillion in value, while imports from the Middle East plummeted 44.5 percent in volume due to disruptions around the Strait of Hormuz.
September alone saw a trade deficit of 536.5 billion yen, marking the fifth consecutive month of deficit.
Written by urgent.news from The Mainichi's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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