GreenergyDaily

Feb. 19, 2025

1. Oil flows from Iran to China rebounded this month after traders smoothed out logistical bottlenecks caused by tighter US curbs, enabling buyers in the largest importer to shift a backlog of cargoes, Bloomberg reported today. 

2. An increase in ship-to-ship transfers, plus the emergence of alternative receiving terminals, led to the jump, according to traders who participate in the market.

3. Imports over February are seen swelling to 1.74 million barrels a day, according to preliminary data from Kpler. That’s 86% higher than the daily rate in January, and the most since October, the data showed.

4. US Treasury Secretary Scott Bessent said last week that the US aimed to squeeze Iran’s oil exports to less than 10% of current levels.

5. Chinese, as well as perhaps Indians, were buying sanctioned oil “and that is unacceptable,” Bessent told Fox Business.