Novorossiysk oil loadings partially resumes oil and fuel loadinging, having been halted for several days

The resumption of oil and fuel loadings at Novorossiysk is a significant development, especially after a halt that lasted several days.

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Three Iran-linked tankers, including one crude oil supertanker have sailed through the Strait of Hormuz in the past 24 hours, according to shipping data; one sanctioned gas tanker and one dry bulk ship is in the process of shipping out of the Strait

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Novorossiysk oil loadings partially resumes oil and fuel loadinging, having been halted for several days

Reports of separate Israeli airstrikes in southern and eastern Lebanon, Al Jazeera reports

Vessel crossings through the Strait on 9th April increased day on day to nine, vs five on the previous day, but traffic remains well below anything consistent with broader normalisation

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This could ease some supply-side pressures in the market, potentially impacting WTI prices. Traders should watch for any further updates that could clarify the situation's durability, as well as short-term implications for oil inventory levels and price dynamics.

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