Tankers trading Russian crude

Fourteen tankers trading Russian crude are stuck off South Korea due to US sanctions and payment issues.

If these are vessels involved in the dark trades, I don’t think there’s much impact to tankers in general. The more interesting item might come into play the next few weeks - European refinery maintenance. Two fold effect.

  • Crude oil headed for European refineries would need to head elsewhere
  • Refined products need to get to Europe - who supplies - India? China? US? (who might need to replenish US reserves)