US Expansion in Venezuela Pushes Oil Shipping Rates Higher
The US intervention in Venezuela has disrupted maritime markets and pushed regional oil shipping rates to their highest levels in almost two years as more crude is expected to flow toward the United States.
Reports said that following the detention of President Nicolas Maduro and Washington’s control over the energy sector, larger volumes of Venezuelan oil will be available to US refineries, boosting demand for medium-sized tankers.
At the same time, additional shipments of US West Texas Intermediate to Europe via similar vessels are likely to tighten the supply of available freight capacity.
On the Caribbean-to-US Gulf route known as TD9, rates jumped to $78.8 thousand per day, the highest since early 2024, while the TD25 route to the Amsterdam-Rotterdam-Antwerp hub rose to $64.4 thousand.
The TD26 route from Mexico’s east coast to the US Gulf surged to $90.7 thousand, reflecting a shortage of immediately available ships and a reshaping of global oil flows.
Reports said that following the detention of President Nicolas Maduro and Washington’s control over the energy sector, larger volumes of Venezuelan oil will be available to US refineries, boosting demand for medium-sized tankers.
At the same time, additional shipments of US West Texas Intermediate to Europe via similar vessels are likely to tighten the supply of available freight capacity.
On the Caribbean-to-US Gulf route known as TD9, rates jumped to $78.8 thousand per day, the highest since early 2024, while the TD25 route to the Amsterdam-Rotterdam-Antwerp hub rose to $64.4 thousand.
The TD26 route from Mexico’s east coast to the US Gulf surged to $90.7 thousand, reflecting a shortage of immediately available ships and a reshaping of global oil flows.
