Greek tankers ferry Iraqi fuel oil via Syrian port Baniyas

Greek-owned tankers are now loading Iraqi fuel oil at the Syrian port of Baniyas after the fuel is trucked across Iraq and across the Syrian border. About 1,000 fuel‑oil‑laden trucks arrive daily, and more than 2.1 million tonnes have already been shipped to Europe and other markets through this new route, which was created after heightened risk in the Strait of Hormuz.

The first cargoes have reached the United States' Gulf of Mexico, and shipments are also heading to Spain and Egypt, signalling a shift in regional energy flows. The route’s emergence comes as oil prices have risen above $90 a barrel and European natural‑gas prices have topped €61 per MWh, intensifying inflation concerns worldwide.

Analysts note that the change in logistics adds a new dimension to global fuel‑oil supply chains, while also highlighting the broader impact of Middle‑East geopolitical tension on energy markets.