A reduction in Suez Canal tanker traffic due to heightened security risks has placed downward pressure on crude oil inventories in Europe, though overall, levels remain ample at key refining hubs as trade flows adjust to prevent a fuel crisis on the continent.  

In this blog, we discuss the likely scenarios based on proprietary datasets created by Ursa Space that are derived from radar satellite imagery. 

Oil market 

A major shipping route in the oil market connects Middle East producers with European consumers via the Suez Canal.