As tankers divert from Red Sea, booming US oil gets another boost
Written by Black Hot Fire Network on January 23, 2024
Europe is at the center of the diversions because its tanker supplies are at high risk of attack.
"The decision for these diversions is by the owners of the oil, which is European," said Viktor Katona, lead crude analyst at Kpler. "European countries are seen as complicit in the Israel-Hamas war. They would rather go around the Cape of Good Hope versus taking a chance through the Red Sea."
The resulting delays to the delivery of products — which include crude, diesel, and LNG products — vary . . .
