Oil Tankers Shift to US for Premium Crude as Hormuz Strait Risks Rise

I’ve noticed massive numbers of empty oil tankers, some of the largest in the world, now sailing to the United States to load up on premium crude. Europe, the Americas, and the Caribbean aren’t as reliant on the Strait of Hormuz, so any closure there has a minimal impact on them. That’s why buyers are rerouting their shipments. The US has become the world’s top oil producer, offering higher-quality, “sweet” crude. As President Trump put it, we have more oil than the next two largest producers combined – and we’re ready for you.

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