Increased US oil exports and Iranian sanctions alter Suez trade patterns
Northbound total petroleum flows through the Suez Canal and the Suez-Mediterranean pipeline have slowed since 2016, while southbound crude oil shipments, mainly to Asian markets such as Singapore, China, and India, have more than doubled in the past three years
The Suez Canal is gaining importance as a southbound route for US and Russian crude oil and petroleum products heading to destinations in Asia and the Middle East
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