Exxon to send its first fuel shipment from US Gulf Coast to Australia, sources say
The arbitrage to ship fuel from the U.S. to Asia will depend heavily on the magnitude and duration of the conflict in the Middle East, said James Noel-Beswick, an analyst at Sparta Commodities analyst.
Reuters, March 4, 2026 –ExxonMobil is set to ship gasoline from the U.S. Gulf Coast to Australia for the first time, highlighting how severely the Strait of Hormuz disruption is reshaping global fuel trade. With Asian refiners facing crude shortages and cutting runs, the unusual route is helping cover supply gaps, though high freight costs of around $20 per barrel raise doubts about its sustainability. According to Sparta’s James Noel-Beswick, the viability of these flows will depend on how long the Middle East conflict persists, with normal trade patterns likely taking time to recover even after the crisis ends.
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