Vitol Offers Iraqi Basra Crude to Clients

Vitol Energy Group is reportedly offering Iraqi Basra crude oil to its clients, according to Odaily. This development suggests that some shipments may have successfully departed the Persian Gulf. Sources indicate that Vitol has recently provided refineries with supplies of Basra Medium and Basra Heavy crude oil. The deliveries are being made through ship-to-ship transfers near the port of Fujairah in the United Arab Emirates. If the transactions are finalized, it would mark a rare instance of Iraqi crude being openly offered by traders on the spot market since the blockade of the Strait of Hormuz.