To contain rising prices, Japan requests a shift to pricing Brent crude instead of Dubai crude

The measure is part of a set of tools used by Japan, which relies on the Middle East for more than 90% of its oil needs, to counter the turmoil caused by the Iran war.

These tools ranged from partial withdrawals from oil reserves to considering intervention in the crude oil futures market to deal with the yen's decline.

The Ministry of Economy, Trade and Industry declined to comment on the document.

Currently, Brent crude futures are trading at around $100 a barrel, which is cheaper than the Dubai benchmark in Asia, so the document says the shift will limit the rise in gasoline prices, and also suggests that wholesalers continue to price their products based on Brent crude going forward.

These administrative directives from the government are not legally binding, but companies usually comply with them.