U.S. crude oil loadings from the Gulf Coast dipped by 153 Mb/d week-on-week to 2.8 MMb/d, marking the lowest level since mid- 2023. This drop was partly due to disruptions caused by Hurricane Francine, which made landfall on September 11. The hurricane led to temporary shutdowns and vessel traffic restrictions at nearly all of the Texas and Louisiana ports. The four-week moving average (dashed red line in chart below) fell to 3.7 MMb/d — its lowest level since mid-August 2023.
The number of tankers loading crude oil for export across U.S. Gulf Coast terminals rose by one week-on-week to 25. Five Very Large Crude Carriers (VLCCs) partially loaded at export terminals, up from four the prior week. Six VLCCs entered the Gulf Coast last week after three consecutive weeks of seeing only four. Three VLCCs departed — two bound for Asia (one to Japan and the other to Singapore), while the DHT Puma’s destination remains undeclared.
