Kpler AIS tracking shows tanker queues building inside the Middle East Gulf and east of the strait, while eastbound Hormuz exits collapsed to just three observed laden ships on 1 March across crude and products, according to Kpler's Bakr
Newsquawk Staff ·
Kpler AIS tracking shows tanker queues building inside the Middle East Gulf and east of the strait, while eastbound Hormuz exits collapsed to just three observed laden ships on 1 March across crude and products, according to Kpler's Bakr.
What it means
The report of building tanker queues in the Middle East Gulf suggests potential supply chain disruptions, which could elevate crude prices amid tightening supply dynamics. The observed decrease in eastbound exits from Hormuz to just three laden ships indicates a significant slowdown, likely impacting market sentiment and fueling concerns over supply constraints. Traders should monitor for potential reaction in both WTI and Brent prices as this situation unfolds.
Sources
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
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