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US to Europe Energy Benefits from Red Sea Disruption: Kpler

OIL

The US has capitalised on shipping disruptions in the Red Sea to become the biggest supplier of crude, diesel and LNG for Europe in recent months according to Kpler.

  • "The US is in top position on basically all the key commodities that Europe needs to buy," Kpler analyst Viktor Katona said at an IE week presentation.
  • The US shipped 2.17 mn bpd of crude oil to Europe so far this month.
  • Exports of diesel stood at 207,000 bpd in the same period, outpacing Saudi imports of around 201,000 bpd.
  • "This idea that the Atlantic basin increasingly starts to trade within itself...is very much represented by the fact that the U.S. has become the largest player in the European market," Katona said.
  • He said that if the Red Sea situation eased, flows would likely return from the Middle East and the India again.
  • No LNG cargoes are currently in the Red Sea according to Kpler.
Energy BulletsCommodities
Energy BulletsCommodities

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