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Flows to the European Union and the UK plunged as higher freight costs stoked by the ongoing turmoil in the Red Sea, as well as unplanned refinery maintenance in Asia, made trade economics better for sending cargoes east rather than west.

Shipments of diesel from India to Europe hit a 2-year low due to Houthi attacks, diverting cargoes to Asia. Higher freight costs and refinery maintenance in Asia shifted trade economics in favor of sending cargoes east. No imports of diesel in EU, only one in UK. Arrivals of diesel-type fuel from India to Asian destinations surged.

(Bloomberg) -- Russia’s seaborne crude shipments fell for a second week, with difficulties selling a key Pacific grade to India set to further snarl flows in the coming week. Most Read from BloombergLargest Covid Vaccine Study Yet Finds Links to Health ConditionsCapital One to Buy Discover for $35 Billion in Year's Biggest Deal Amazon Deserves to Be Called Out for Swindling UsersA $6 Trillion Wall of Cash Is Holding Firm as Fed Delays CutsWall Street’s Moelis Bet Big on the Mi...

(Bloomberg) -- Shipments of diesel from India into Europe are at the lowest since 2022 so far this month as Houthi attacks on merchant shipping continue to disrupt international trade, driving more cargoes to Asia. Most Read from BloombergLargest Covid Vaccine Study Yet Finds Links to Health ConditionsWall Street’s Moelis Bet Big on the Middle East. Now He’s Cashing InCapital One Weighs Acquisition of Discover FinancialTrump Keeps NY Empire Intact as Judge Rescinds Asset-Sale Order...

(Bloomberg) -- Russia’s seaborne crude shipments rebounded strongly from two weeks of disruptions, with record-equaling flows from the country’s main export terminals. Eleven tankers completed loading of the country’s ESPO crude at the Pacific port of Kozmino, recovering after a storm halved exports the week before and matching previous highs. Volumes from the Baltic port of Ust-Luga also gained in the week to Feb. 4, after maintenance work cut flows late last month, while s...

(Bloomberg) -- Russia’s seaborne crude shipments fell further last week, with flows from a key Pacific port that supplies Chinese buyers halted for five days by high winds and freezing temperatures.Most Read from BloombergMusk Says First Neuralink Patient Received Implant in BrainTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersTrump Cash Stockpile at Risk From $450 Million Dual VerdictsIsr...

China, after depleting its strategic oil reserves throughout 2023, plans to cautiously refill its stocks in 2024, without triggering a significant surge in global oil prices.

(Bloomberg) -- Russia’s seaborne crude shipments fell to the lowest in almost two months, undermined by adverse weather and a Ukrainian drone strike that briefly halted flows from a key Baltic export terminal.Most Read from BloombergChina Weighs Stock Market Rescue Package Backed by $278 BillionIndia Tops Hong Kong as World’s Fourth-Largest Stock MarketFlorida Governor DeSantis Drops Out of 2024 Race, Endorses TrumpHong Kong Stocks at 36% Discount Show True Depth of China GloomMorg...

(Bloomberg) -- A major drop in shipments of oil and fuel through the Red Sea could become even bigger due to the risk Houthi rebels will retaliate following the US-led attacks on their bases in Yemen.Most Read from BloombergGoogle Lays Off Hundreds in Hardware, Assistant, EngineeringUS and UK Strike Yemen’s Houthis After Red Sea Ship AttacksUK’s Sunak Authorizes Joint Military Strikes With US Against HouthisHertz to Sell 20,000 EVs in Shift Back to Gas-Powered CarsSEC Authorizes Bi...

(Bloomberg) -- Russia’s seaborne crude shipments began 2024 exactly in line with Moscow’s pledge to cut the country’s exports as part of the wider OPEC+ effort to stabilize global oil markets.Most Read from BloombergIPhone Survives 16,000-Foot Fall, Helps Steer Jet-Panel HuntChinese Billionaire Is Second-Biggest Foreign Owner of US LandBoeing Slumps After Panel Blowout Leads to Partial 737 GroundingMusk’s Drug Use Concerns Tesla, SpaceX Leaders, WSJ SaysEmirates&#x201...