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Ras Tanura just recorded its busiest loading day since before the war. Following disruption to Saudi Arabia’s East-West pipeline, 6 VLCCs loaded nearly 12 million barrels at Ras Tanura and Juaymah on 21 September — highlighting how quickly crude flows are adapting to pressure around Hormuz. But Kpler’s Risk & Compliance data reveals a deeper story. Some of the vessels had already recorded dark ship-to-ship transfers or port calls in the previous six weeks, suggesting the latest rerouting sits on top of a longer-running pattern of changing vessel behaviour. Kpler analysts Ana Subasic and Dimitris Ampatzidis examine the vessel movements, AIS activity and compliance signals behind the loading surge — and what they reveal about risk tolerance in an increasingly disrupted market. Disclaimer: At the time of publication, the data reflected the latest available information and is subject to change as new data becomes available. Stay ahead of the market with #Kpler Insight: okt.to/nmU1eV

Diplomacy, rising oil flows and the East-West pipeline are putting fresh pressure on oil prices. In this discussion, Michelle Brouhard, Head of Policy and Geopolitical Risk, and Matt Smith, Director of Commodity Research, unpack the latest signals around US-Iran diplomacy and shifting Mideast Gulf flows. With Saudi loadings increasing and the East-West pipeline gearing back up, they explore whether Iran’s leverage is shifting, what could bring both sides closer to the negotiating table, and what to watch next. Watch the full video: okt.to/wlHChM

🌎 Our LATAM Series kicks off soon. Global uncertainty is reshaping energy markets, and the effects are already reaching Latin America through changing import costs, rerouted cargoes and pressure on freight. Join Kpler experts Johannes Rauball, Ines Goncalves, David Tonyan and Matt Wright as they break down the latest developments across crude, refined products and freight, including supply and demand, trade flows, pricing, margins and the key risks shaping the region. 📅 September 24 ⏰ 10:00 COT | 11:00 EDT | 12:00 BRT | 16:00 BST Register now and get the Kpler data-driven view on what’s happening across LATAM and what to watch next. Reserve your spot: okt.to/uo4G16

Mark your calendars: Kpler Pulse Latam Series is back Starting 24 September, we're bringing together Kpler experts for five webinars exploring the forces shaping Latin America's commodity and maritime markets. 📍 24 Sep: Crude & Refined Products 📍 30 Sep: Dry Bulk 📍 7 Oct: Maritime 📍 15 Oct: Financial Flows 📍 21 Oct: Arbitrage First up: "Latam under pressure: Crude, fuel, and freight in a shifting world." Join us as we unpack how changing crude flows, fuel markets and freight dynamics are reshaping the region. 🕙 10:00 COT | 11:00 EDT | 12:00 BRT | 16:00 BST 👉 Reserve your spot: okt.to/PMKZNT

Oil markets are navigating a new wave of uncertainty. Are you prepared for what comes next? Join Kpler experts Homayoun Falakshahi, Andon Pavlov and Matt Stanley for Oil Insight: Navigating uncertainty, a focused briefing on the latest developments shaping crude and refined products markets. From Middle East disruption and US–Iran tensions to shifting supply, demand, flows, pricing and margins, our experts will unpack what’s happening now — and the key signals to watch next. Register now and join us live: okt.to/Jo6PnV

US copper imports stay elevated as record-value cargo heads for US shores The CME-LME arbitrage continues to pull copper cathode into the US, with imports running well above year-ago levels through 2026. After record arrivals in July and a softer but still elevated August, Kpler is tracking cargoes scheduled to discharge in September and October. The question now: can US copper imports hold this pace as tariff uncertainty persists? Stay ahead of the market with #Kpler Insight: okt.to/T03xPF

Red Sea risks tighten gasoil The Red Sea escalation is moving from crude logistics into gasoil markets. European refinery runs could fall by around 200kbd, while Yanbu gasoil and diesel outflows are already nearly 50% lower year on year. Further aversion to the Bab El Mandeb Strait could delay Indian cargoes and tighten prompt supply in Europe and the Mediterranean. In Asia, concerns over crude feedstock availability could restrain refinery runs and reduce opportunistic diesel exports, including from China. With global refining capacity already a constraint, the latest disruption adds another layer of support to gasoil markets. Stay ahead of the market with #Kpler Insight: okt.to/9uRElA

Saudi disruption reshapes crude flows Saudi Arabia’s East-West pipeline disruption has removed a key bypass around Hormuz just as Yanbu inventories are running low. Stronger Dubai structure has reopened west-to-east arbs and intensified competition for Atlantic barrels. Europe remains tight as Forties moves east and Saudi availability falls, while WTI looks increasingly cheap abroad despite tightening US balances. Real-time tools to enable faster, better decisions: okt.to/ho0wab

Saudi oil exports pivot east Damage to Saudi Arabia’s East West Pipeline has shifted the #oil market’s focus from pipeline integrity to export logistics. Kpler’s base case assumes Petroline returns at around 50% of its pre-attack throughput after repairs of up to six weeks, potentially cutting Yanbu exports by 2.5 to 2.7 mbd. Saudi Arabia has sufficient tanker capacity to redirect roughly 3 mbd through Ras Tanura, requiring about 25 additional shuttle VLCCs per month. The bigger constraint is geopolitical. Greater reliance on Persian Gulf terminals means greater exposure to the Strait of Hormuz, keeping Dubai differentials supported even as the initial extremes ease. Stay ahead of the market with #Kpler Insight: okt.to/DxXWHq

Washington runs out of levers US refiners are already running near their limits, yet fuel prices and refining margins remain elevated. Now, Washington is pulling another lever: supply diplomacy. President Trump has urged Ukraine to halt strikes on Russian refineries as disruption to global fuel supply intensifies. But with refining capacity stretched and pressure at the pump persisting, the options are narrowing. Stay ahead of the market with #Kpler Insight: okt.to/ONwM6J

Six months of the Iran war — 45 seconds of market impact. From ceasefires and disrupted Strait of Hormuz traffic to #tanker attacks and vessels going dark on AIS, the conflict has repeatedly reshaped energy markets and maritime flows. Watch the timeline to see how key events unfolded alongside Brent crude and gasoil prices. Stay ahead of the market with #Kpler Insight: okt.to/eFvwyT

Heading to CT Asia 2026 in Bali? Join Kpler’s Firat Ergene, Lead Insight Analyst – Coal, Petcoke & Cement, as he takes the stage at CT Asia 2026 on 28 September. Firat will be discussing LNG markets, fuel switching and Asian energy security, looking at how changing fuel economics, shifting trade flows and evolving supply dynamics are influencing energy decisions across the region. With CT Asia co-located with the International Critical Minerals and Metals Summit for 2026, the event will bring together leaders from across coal, energy, mining and critical minerals to explore the forces shaping Asia’s energy and commodities landscape.

Toronto markets in focus Commodity markets continue to contend with changing supply dynamics, trade flows and demand signals. On 15 September, Kpler will bring market participants together at SixtyEight at Scotia Plaza in Toronto to examine the forces shaping oil, agriculture and dry bulk. Eric Nuttall of Ninepoint Partners and Rory Johnston of Commodity Context will join Kpler’s Matt S. for a fireside discussion on the #oil market. Matt Darragh and Alexis Ellender will then share their outlooks for agricultural and dry bulk markets. The programme runs from 3:00pm to 6:30pm, followed by a networking reception. Limited seats remain. See you there. okt.to/Y9vkb5

We're bringing together decision-makers from across the commercial #shipping market for a briefing in Miami. The discussion will centre on: ◾ AIS spoofing and dark STS transfers — what defensible vetting looks like in practice ◾ The shadow fleet's role in ton-mile demand and rates ◾ Trade routes reshaping around emerging market disruptions Reserve your seat: okt.to/rq1gtM

What global uncertainty means for LATAM? Latin America may be geographically distant from many of today’s conflicts, but it is not insulated from their consequences. Changes in #fuel prices, #shipping routes and trade flows are already shaping the region’s economic outlook, yet Latam often receives limited attention in the broader global debate. Our upcoming series of five webinars will examine how these pressures are reaching the region, what they mean for businesses and economies, and why Latin America deserves a more prominent place in the conversation.

Asia pulls, freight takes the margin Limited Hormuz flows and falling Iranian floating storage are keeping Asian buyers focused on Atlantic Basin barrels. That demand has helped clear Europe’s prompt length and firm DFL, while relatively cheap WTI keeps Midland competitive into Asia. The arbs remain open, but freight is taking a growing share of the margin. Real-time tools to enable faster, better decisions: okt.to/VD7aTq

Coal prices rise as supply risks build Coal markets are strengthening into winter as higher gas prices improve the economics of #coal fired generation across Europe and Asia. Supply uncertainty is reinforcing the move, with Chinese mine safety restrictions, drought disrupting Indonesian logistics and Black Sea shipping risks complicating Russian exports. India is expected to increase seaborne buying from October as utility inventories decline, while tighter fundamentals in China could add further demand later in winter. Together, these factors are keeping thermal coal prices supported despite softer import demand from China and India so far this year. Stay ahead of the market with #Kpler Insight: okt.to/RzC8PD

On plenty of desks, a position update lands on WhatsApp before it lands anywhere else, and it stays there, disconnected from the tonnage list. We just launched WhatsApp integration for Kpler #Chartering: positions and fixtures shared over WhatsApp flow straight into your terminal. No copy-paste, no missed circulars. Brokers shortlist before the inbox is even open, the edge that gets you there first. Charterers get a cleaner tonnage picture without waiting on a broker to type it up. Owners and operators see real fleet availability, not a spreadsheet updated after the fact. If your desk still runs on WhatsApp and email side by side, disconnected from each other, this is what closing that gap looks like. Book a demo: okt.to/cB7dKS

Ana Subasic, Trade Risk Analyst at Kpler, will be speaking at GTR Commodities 2026 in Geneva on 23 September. She’ll join the session “Compliance and fragmentation: Keeping abreast of screening needs as complexity widens,”looking at how growing complexity across global trade is reshaping compliance and screening requirements. Bringing together more than 600 senior professionals, GTR Commodities will explore some of the biggest challenges facing commodity trade, from geopolitical disruption and market volatility to risk, compliance and supply chains. 📍 Geneva | 🗓️ 23 September | 🕒 15:10–15:50