Brent crude currently trades at $107.37 per barrel, while West Texas Intermediate sits at $94.31. The widening price spread between the two reflects market anxiety over a potential U.S. ban on diesel fuel exports. Although Kpler data suggests higher export volumes, the figures mask the reality of a crippled tanker sector forced into the shadows. Saudi Arabia has increasingly turned to ship-to-ship transfers to circumvent infrastructure damage from Houthi strikes on the East-West pipeline and the Yanbu port.

These workarounds serve as a secondary tax on the energy sector. Tim Waterer of KCM Trade notes that the market is seeing a clearer picture of regional output, yet the inherent inefficiency of these methods ensures prices remain high. The strain on global supply chains is compounded by record-high tanker rates and a persistent shortage of available vessels, as ship-to-ship operations demand more tonnage than standard transit. With maritime traffic increasingly rerouted around the Cape of Good Hope to avoid Red Sea volatility, the logistical burden on crude exports continues to mount.