# Analysis: Currency strength boosts Asia's crude oil purchasing power

> Asian refiners are benefiting from strong South Korean won and Thai baht, which offset the global crude oil price rise. Japanese refiners gain less because the yen has lagged. Global benchmark crude has trended higher since Q3 amid OPEC supply cuts.

- Date: 2017-12-11 · published 2017-12-11T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/67739-analysis-currency-strength-boosts-asia-s-crude-oil-purchasing-power
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Stronger Asian currencies lower crude procurement costs for regional buyers, supporting refinery margins and demand for crude and products, while the weaker yen limits that benefit in Japan.

## Read by commodity

- BRENT: bullish ▲
- USDJPY: neutral
- USDKRW: bearish ▼
- USDTHB: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-05-30 | [Price connection strengthens between canola, crude oil](https://feedsoft.ai/events/41512-price-connection-strengthens-between-canola-crude-oil.md) | +2.0% | -4.2% |
| BRENT | 2017-10-31 | [Oil up near 2-year highs, analysts see more US crude exports](https://feedsoft.ai/events/68630-oil-up-near-2-year-highs-analysts-see-more-us-crude-exports.md) | +5.8% | +4.6% |
| BRENT | 2016-12-01 | [C$ strengthens as oil extends rally on OPEC deal](https://feedsoft.ai/events/73708-c-strengthens-as-oil-extends-rally-on-opec-deal.md) | +6.6% | +12.9% |
| BRENT | 2025-06-23 | [Japan's yen sinks as spike in crude oil overpowers safe-haven appeal \| Reuters](https://feedsoft.ai/events/24460-japan-s-yen-sinks-as-spike-in-crude-oil-overpowers-safe-haven-appeal-reuters.md) | -11.9% | -9.9% |
| BRENT | 2026-04-30 | [Global energy costs rise as Iran war affects Brent crude oil price \| AP News](https://feedsoft.ai/events/19893-global-energy-costs-rise-as-iran-war-affects-brent-crude-oil-price-ap-news.md) | -15.3% | -21.9% |

## Sources

- spglobal.com: https://www.spglobal.com/commodityinsights/pt/market-insights/latest-news/oil/121117-analysis-currency-strength-boosts-asias-crude-oil-purchasing-power

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.