Reuters breaks down the global impact of Egypt’s increased energy imports

The impact of Egypt's heightened demand for fuel: Reuters is out with a piece looking at how a confluence of heightened Egyptian demand for fuel and lower European supply has significantly boosted refiners’ profit margins and increased fuel oil costs. “Strong buying for September-loading cargoes helped offset the global market weakness that usually seeps into the market after the summer burning peak in the Middle East ebbs,” FGE’s Eugene Lindell told the newswire. Egypt's oil imports hit their highest levels since at least 2016 at 255k barrels per day in September.