US oil heads to Greece for first time in four years amid Middle East disruptions

A shipment of US crude lipid arrived successful Greece for the archetypal clip successful astir 4 years, arsenic ongoing struggle successful the Middle East and disrupted shipping routes reshape planetary vigor trade flows.

According to Reuters, vessel tracking information from Kpler shows a cargo of WTI Midland crude — a cardinal US airy sweet crude — was delivered to Greece aft loading successful Houston.

The tanker Eagle Helsinki, sailing under the Isle of Man flag, carried astir 700,000 barrels from the Seabrook Logistics terminal earlier anchoring adjacent Agio Theodoroi, adjacent to the refinery operated by Motor Oil successful Corinth.

The Corinth installation is the country’s second-largest refinery and accounts for much than a third of Greece’s refining capacity.

According to maritime analytics steadfast Signal Ocean, the vessel had initially been bound for Rotterdam earlier altering people mid-Atlantic toward Gibraltar and ultimately Greece, underscoring shifting trade dynamics.

Refiners successful the portion person traditionally relied heavy connected Middle Eastern supply, peculiarly Iraqi crude from Basrah. However, the war involving the United States and Israel against Iran, on with reduced traffic done the Strait of Hormuz, has disrupted supply chains and curtailed output, prompting buyers to question alternate sources.