Crude Trade Service

Refiners and crude producers need to be on the front foot to identify opportunities in this fast-changing market. Crude producers need to identify markets for crude placement and understand how the competition and crude differentials are changing over time. Similarly, refiners must inform their crude-sourcing strategy and look to optimise their crude selection. Assess how market events affect crude supply, demand, trade, prices and differentials with our new Crude Trade Service.

The Red Sea remains one of the critical global chokepoints for international trade. For oil, an average 8.5 million b/d of crude oil and refined products sail through the Red Sea according to our Vessel Tracking, Crude Trade Service and Refined Product Trade deliverables. However, the Israel-Gaza war has triggered Houthi attacks in the Red Sea on global shipping. Ships are diverting to southern Africa around the Cape of Good Hope, a longer route that adds as much as 16 days. In this Insight we highlight the impact on oil demand from the diversions around the Cape of Good Hope.