(Bloomberg) -- Russia’s weekly crude exports crashed by the most since before the 2022 invasion of Ukraine in the seven days to July 7, with the less...
-- Russia ’s weekly crude exports crashed by the most since before the 2022 invasion of Ukraine in the seven days to July 7, with the less volatile four-week average falling to the lowest since February.Rich Chinese Return to Hong Kong as Singapore Steps Up ScrutinyThere was no clear cause for the slump in shipments. There were no gaps in loading programs to suggest maintenance work and no reports of storms affecting the berthing or loading of vessels.
Russia’s seaborne crude flows in the week to July 7 slumped by about 990,000 barrels a day to 2.67 million, its lowest since the final week of January, when storms slashed shipments from the Pacific port of Kozmino. The less volatile four-week average was also down, falling by about 215,000 barrels a day to a 20-week low of 3.27 million.
About 900,000 barrels a day of crude was loaded onto tankers heading to China. The Asian nation’s seaborne imports are boosted by about 800,000 barrels a day of crude delivered from Russia by pipeline, either directly, or via Kazakhstan. The “Other Unknown” volumes, running at about 80,000 barrels a day in the four weeks to July 7, are those on tankers showing no clear destination. Most originate from Russia’s western ports and go on to transit the Suez Canal, but some could end up in Turkey. Others may be moved from one vessel to another, with the majority of such transfers now taking place in the Mediterranean, most recently off Morocco, or near Sohar in Oman.
Four-week average income was also down, falling by about $50 million to $1.67 billion a week. The four-week average peak of $2.17 billion a week was reached in the period to June 19, 2022.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia’s Seaborne Crude Shipments Rebound to Highest Since MayMaintenance work ends at key Russian oil export terminals
Read more »
Crude Oil Aug 24 (CL=F) Stock Price, News, Quote & HistoryFind the latest Crude Oil Aug 24 (CL=F) stock quote, history, news and other vital information to help you with your stock trading and investing.
Read more »
U.S. crude and gasoline stockpiles rose last week, distillate inventories fell: EIAU.S. crude inventories rose by 3.6 million barrels to 460.7 million barrels in the week ending June 21
Read more »
Crude awakening: Edmonton Oilers fans coping with Stanley Cup lossEDMONTON — The hearts of Edmonton Oilers fans shattered Monday night as the team lost Game 7 of the Stanley Cup final. On Tuesday, many were still trying to put the pieces back together. 'I wore all black to work.
Read more »
Peru state-run oil firm reports crude leak from illegal pipeline tapPetroperu recently restarted operations through the North Peruvian Oil Pipeline, which had been damaged by people stealing crude
Read more »
Crude awakening: Edmonton Oilers fans coping with Stanley Cup lossEDMONTON — The hearts of Edmonton Oilers fans shattered Monday night as the team lost Game 7 of the Stanley Cup final. On Tuesday, many were still trying to put the pieces back together. 'I wore all black to work.
Read more »