Mmastodon EnvironmentEnergy first seen 1 d ago, last 22 h ago, peak #1
US shipping fuel glut emerges as traffic falls
Original: there is a shipping fuel glut in the US right now due to the decresed shipping traffic due to increased shipping costs f
The United States currently faces a glut of shipping fuel because shipping traffic has decreased. The slowdown is attributed to higher shipping costs, which are in turn linked to risk around the Strait of Hormuz. Commenters in energy and shipping circles are highlighting the ironic chain of consequences, noting how geopolitical risk thousands of miles away is producing an oversupply of bunker fuel at American ports.
Why now: Rising Hormuz-related shipping costs are reducing US shipping traffic and creating an unexpected fuel oversupply, a counterintuitive energy story.
United StatesStrait of Hormuzshipping industry
Evidence
- there is a shipping fuel glut in the US right now due to the decresed shipping traffic due to increased shipping costs from hormuz risk. 😵💫 # shipping # energy https://www. reuters.com/business/energy/am… · kali@discuss.systems · 7
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