Crude Complexities- Why Every Shipping Lane Matters

“Ukraine attacks on Russia’s facilities have become a footnote,” warned Andy Lipow, president of Lipow Oil Associates. “But the Ust-Luga Oil Terminal & Primorsk account for 40% of Russian exports."

The Strait of Hormuz, Iran’s new piggy bank, is a vital trade pipe for crude, and the strain on the amount of trade moving through this vital waterway is reflected in the prices of petroleum products and LNG.

But there are complexities within the crude supply chain that cannot be forgotten.