In a dailymarket briefing RS Platou Markets reminded clients that Russia is now thesecond largest exporter of crude oil in the world and ships a significant numberof cargoes through ports in the Black Sea, which is at the centre of thecurrent conflict.
“Europe has the shortest average importdistance for oil of any major importer, by far,” it said. “Alternative suppliesto Europe would be three to four times the distance if sourced from West Africaand Iraq (crude oil) and the US and Middle East (products).
