BlockBeats News, March 13th, ship tracking data shows that around 30 oil tankers in Asian waters carrying Russian crude oil and fuel are now potentially open for trades after the US issued a temporary waiver for pre-arriving cargoes. The data indicates that these vessels are loaded with at least 19 million barrels of Russian crude oil and 310,000 tons of refined petroleum products. The refined products are mainly naphtha for plastic production and some diesel, and their prices have surged significantly since Iran effectively blocked the Strait of Hormuz. Tracking data shows that these vessels are currently in a “waiting” status—indicating no specific destination yet, or showing a move towards Singapore and Malaysia, where tankers usually linger to conclude transactions. Muyu Xu, Senior Crude Analyst at Kpler, stated that the US decision is “buying time for countries and refiners to cope with the supply shock in the Middle East.” She noted: “Countries will buy any resources they can find—energy security is a top priority for all nations.” (Jinse)
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