Supply flows redirected from the Persian Gulf toward Asia, shipments coming from the US East Coast
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The volume of oil supplies through the Panama Canal has increased by 74%, according to reports citing data from the transport sector.
The cargo diversion is driven by the situation surrounding Iran. Supplies are predominantly routed from the US East Coast to Asian countries, which are experiencing a significant reduction in deliveries from the Persian Gulf.
The shift in supply routes reflects a restructuring of global oil flows.
Oil shipments through the Panama Canal have increased by 74% due to a deficit of Iranian oil in Asia. American crude from the US East Coast is now actively replacing lost Middle Eastern volumes for Asian buyers.
The reorientation of oil flows may affect fuel prices in Russia and CIS countries through changes in global energy balances and competition for clients. For motorists and businesses dependent on energy resources, these shifts in global logistics could be reflected in the cost of gasoline and electricity in the coming months.
Mehmet Yılmaz