Shipping Costs Archives - The Daily Journal

Oil piles up in the Americas as Asia and Europe face shortages

October 13, 2026October 13, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Heavy crude and other grades of oil have accumulated across the Americas in recent weeks as historically high maritime freight rates have hindered exports to Asia and Europe. This market paradox has left Asian and European buyers scrambling to secure supplies, with Brent crude prices exceeding $100 per barrel. Consumers in Asia […]

Vitol and Trafigura push for discounts on Venezuelan crude oil

September 23, 2026September 23, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Major international oil trading companies Vitol and Trafigura are pushing for steeper discounts on Venezuelan crude oil as rising freight rates erode both companies’ profit margins. According to sources consulted by Reuters, the companies are seeking more favorable prices per barrel after maritime transportation costs surged in recent weeks. Higher shipping costs […]