Millions of barrels of Russian oil, products head for US ports

25 February 2022 - 09:01 By Chunzi Xu
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More than 12 million barrels of Russian-origin crude oil and refined products are en route to the US aboard almost two dozen vessels for delivery in the next month, according to oil-analytics firm Vortexa.
More than 12 million barrels of Russian-origin crude oil and refined products are en route to the US aboard almost two dozen vessels for delivery in the next month, according to oil-analytics firm Vortexa.
Image: Bloomberg

More than 12 million barrels of Russian-origin crude oil and refined products are en route to the US aboard almost two dozen vessels for delivery in the next month, according to oil-analytics firm Vortexa.

There were no reports of diversions as of Thursday morning, just hours after Russian military units attacked Ukrainian targets and international powers threatened to intensify sanctions. 

One of the numbers traders have been watching: U.S. crude imports from Russia averaged about 106,000 barrels a day last week. Volumes have remained muted in recent weeks after averaging zero for three weeks straight in January. 

As recently as last week, some market participants were wary of taking Russian fuel oil and naphtha and sought alternatives.

  • ~4.07m bbls of crude are currently headed to Louisiana, Hawaii, Washington and Delaware
  • ~4.37m bbls of fuel oil are headed for the U.S. Gulf Coast. These are typically used as feedstock for coker units to make gasoline and diesel
  • ~2.18m bbls of vacuum gasoil are headed for the U.S. Gulf Coast and New York. VGO is typically used as feedstock for gasoline units
  • ~1.8m bbls of naphtha is headed for New York, typically used for gasoline blending
  • Charterers include Vitol, BP, Chevron, Mercuria, Saudi Aramco, Novatek and Glencore
  • Deliveries are currently scheduled from Feb. 26-Mar. 26

More stories like this are available on bloomberg.com


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