Brent crude has dropped beneath $82/bbl, despite continuing fallout from the Red Sea crisis. Following yesterday’s report on the consequences for journey times, we trawled through freight data to see how our analysis lined up and found our calculated journey times accurately tied in with those undertaken by vessels over the past month. The extension of journey times is particularly damaging for Black Sea origin cargoes; it has been reported that Kazakh crude is now travelling to Asia around Africa, more than doubling the journey through the Red Sea that was possible until recent weeks.
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