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High Waves Disrupt US Gulf Coast Crude Loadings

OIL

Stormy waves off the Gulf Coast are causing disruption to US crude loadings.

  • Three of the four main areas for ship-to-ship transfers were shut yesterday with Corpus Christi, Texas suspended for operations through Wednesday afternoon. Transfers have seen disruption during the last week due to high waves. Forecasts suggest the ship-to-ship zones may shut again on Saturday.
  • Currently 32% of US crude uses ship-to-ship transfers to load crude from smaller vessels onto large tankers to export to Asia and Europe.
  • Holders of US Gulf Coast stocks try to reduce inventories to avoid taxes that are typically collected on Dec 31 in parts of Texas and Louisiana.
USEnergy BulletsCommodities
USEnergy BulletsCommodities

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