Russian Oil Tankers Are Still Loading for the U.S., for Now
- Millions of barrels of Russian oil are en route to U.S.
- Flows to slow in March as new bookings have dried up
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Two cargoes of Russian oil loaded late last week for U.S. ports may be among the last shipments of their kind as the market seeks alternatives amid mounting sanctions against Russia’s financial system.
Commodity trading giant Vitol booked vessels Elli and Matterhorn Spirit to carry a combined 780,000 barrels of either crude or fuel oil for delivery in the U.S. in March, according to data from oil analytics firm Vortexa. There has been no new bookings of Russian oil for the U.S. since February 21st, according to shipping reports compiled by Bloomberg. Existing bookings show Friday is the last day for a Russian cargo to load for the U.S.