80-million-dollar freight blocks US heavy crude
By the AFREEQUE newsroom, based on Beninwebtv
The cost of a supertanker travelling from the Gulf of Mexico to Asia exceeded 80 million dollars in October, compared with 10 to 15 million dollars at the start of the year. The surge is blocking exports of US heavy crude and pushing down several oil grades, according to Argus Media.
The cost of a supertanker travelling from the Gulf of Mexico to Asia exceeded 80 million dollars in October, compared with 10 to 15 million dollars at the beginning of the year. This increase is blocking some exports of Canadian, Colombian, Ecuadorian and Venezuelan heavy crude, according to Beninwebtv.
Transport to Asia now costs about 40 dollars per barrel, while Asian and European refineries are seeking more heavy oil. The gap between the accumulation of barrels on the American continent and overseas demand has therefore widened, Beninwebtv reports.
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Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
