U.S. refiners turn to Middle East for fuel oil after Russia import ban | Reuters

U.S. refiners turn to Middle East for fuel oil after Russia import ban | Reuters

U.S. refiners have begun snapping up fuel oil cargoes from the Middle East this month after U.S. President Joe Biden banned Russian oil imports over the country's invasion of Ukraine, shipping data showed.

The United States last year imported about 700,000 barrels per day (bpd) of different types of fuel oil and other feedstocks that mostly went to U.S. Gulf Coast refineries to supplement heavy crude oil, according to market research data.

Russia last year accounted for just under half of U.S. fuel oil imports, Mexico for 20% and the Middle East about 5%, according to data from research firm Kpler.

Middle East supplies are set to make up at least 17% of April U.S. fuel oil purchases, according to preliminary Refinitiv Eikon tanker tracking data.