Panama Canal traffic rises as Asian refineries pivot to US energy supplies to avoid the blocked Strait of Hormuz amid Middle East conflict.
Panama Canal authorities report increased traffic as Asian refineries shift oil and gas procurement to the United States, bypassing the Strait of Hormuz amid ongoing conflict in the Middle East.
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Panama Canal authorities report increased traffic as Asian refineries shift oil and gas procurement to the United States, bypassing the Strait of Hormuz amid ongoing conflict in the Middle East.
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UPDATE: Analytics firm Vortexa reports 34 tanker movements involving Iran-linked vessels in the Gulf, including 10.7 million barrels of crude oil transported over the past week.
Analytics firm Vortexa recorded 34 movements of Iran-linked tankers in the Gulf between April 13 and Monday, including six voyages carrying 10.7 million barrels of Iranian crude.
UPDATE: Oil prices climb over 3% as vessels face attacks in the Strait of Hormuz. The surge follows reports of maritime security incidents in the critical energy transit corridor.
Oil prices rose by more than 3% today following reports of attacks on vessels in the Strait of Hormuz.
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