Exxon Mobil’s rare Australia gasoline shipment shows how the Strait of Hormuz shock is rewriting fuel trade
Exxon Mobil is set to move at least 300,000 barrels of gasoline out of the U.S. Gulf Coast, headed for Australia to meet its own import needs, according to four sources familiar with the situation. The company has secured two medium-range tankers—Largo Eagle and Nord Ventura—to take on cargo in Houston sometime between March 13 and 18, loading a combined 600,000 barrels. The last tracked gasoline shipment on this route, based on Kpler data, was from Marathon Petroleum’s Garyville facility back in December 2023. Shipping costs run close to $6 million per vessel, or about $20 for each barrel, and the final price tag “will depend heavily on the magnitude and duration of the conflict,” said James Noel-Beswick, an analyst
