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As industry leaders gather in Houston next week, many conversations will center on the evolving situation in the Middle East and its potential implications for global energy markets. Vortexa and Enverus invite you to join an After-Hours Talk on March 25, an evening reception in downtown Houston. The program will begin with a brief, rapid-fire fireside chat featuring Rohit Rathod (Vortexa) and Carl Larry (Enverus) sharing their observations on current market dynamics, how developments in the Middle East may influence North American markets, and the signals market participants should be watching next. The evening will then continue with cocktails, light bites, and the opportunity to connect with peers from across the industry. Attendance is limited, and guests will enjoy a special brand activation with a gift for all attendees. 📍 Downtown Houston 🗓 March 25 | 4:00–8:00 PM 👉Secure your place: ow.ly/pVlQ50YvRyF

Trade flows are already shifting in response to China’s fuel export curbs. Vortexa Head of APAC Analysis Ivan Mathews shared his perspective with Reuters on how supply is tightening across Asia. As Ivan notes: “More of India's transport fuel exports will divert towards Asia instead of the West such as Europe and the Americas. More product exports from the Red Sea are likely to head towards Asia as well.” Read the #Reuters article here: reuters.com/business/energ… 👉 See all our analysis of the developing situation: ow.ly/fSp650YwbwV

One of the first questions sophisticated trading teams ask is: “How is this calculated?” That question should always have a clear answer. Anywhere Freight Pricing is built on: → Market pricing inputs → Decomposition into identifiable cost drivers → Recombination logic to cover global routes → Analyst oversight This is not a black box. It is a structured, explainable framework for global freight pricing. Trust increases when logic is transparent. Read the methodology brief: ow.ly/ZYSg50YuIxO

How is the Middle East conflict reshaping LPG trade flows? Our latest LPG monthly report explores the knock-on effects of disruption across the Middle East Gulf, where roughly 30% of regional LPG supply has been impacted. In this edition, we examine: → Why structurally strong demand in India leaves it most exposed to supply disruptions → How returning Chinese ethane buying is supporting US exports → What rising vessel availability in the US Gulf means for freight rates → Why weak petrochemical margins continue to pressure plant operating rates 📥 Download the full report: ow.ly/UUVF50YvRJt #LPG #EnergyMarkets #Petrochemicals #Shipping #EnergyTrading #EnergyInsights

Much of the market’s attention right now is on developments in the Middle East. At the same time, important shifts continue to unfold across Latin American energy markets as the world looks towards the Americas for replacement barrels. Venezuelan crude is returning to broader markets, Russian diesel into Brazil continues to reshape trade flows, and product demand across the region remains uneven. Tanker positioning and gas supply dynamics are also evolving in ways that could influence regional balances heading into 2026. Join Vortexa’s analysts this Thursday as they walk through what the data is showing across crude, refined products, LPG, and LNG markets in Latin America. 💻 Energy Market Insights Virtual Webinar: LatAm Edition 🗓 March 19, 2026 | ⏰ 9:00 AM CT Register: ow.ly/OjRZ50Yvb5B

The Hormuz crisis is reshaping global energy flows, maritime risk, and shipping routes. Watch the on-demand briefing with Pamela Munger (@Vortexa), @Michellewb_, and Ariel Guzman (Windward) on what the data shows across cargo movements, insurance conditions, and shadow fleet activity. okt.to/VmijKr

Our latest LNG flows analysis highlights how unprecedented supply uncertainty, and seasonal demand, are shaping global trade patterns. On the supply side: → Qatar and UAE loadings dropped to zero last week, with restart timelines still unclear. → Oman’s exports remain stable despite elevated regional risks. → Russia’s threat to proactively divert LNG away from the EU faces practical obstacles. On the demand side: → Asia is receiving its final pre-force majeure LNG cargoes from Qatar, as the region faces a looming supply deficit. South Asia markets have already been hit hardest. → Europe’s LNG imports dip as the heating season winds down, with attention focused on upcoming gas storage refill. Get the full breakdown of import and export flows, with the exact cargo counts, regional splits, and week‑on‑week shifts, by joining our weekly LNG newsletter: ow.ly/8imb50Yvb4r

📉 Sharp dip in Russian crude on water Since the start of March, Russian crude on water has dropped by >20mb, equivalent to a draw of nearly 2mbd. The key driver is the Middle East war and the closure of the Strait of Hormuz, which has hit the nearby India market particularly hard. Two US sanctions waivers are accelerated the shift: India’s Russian crude imports jumped to ~1.5mbd in the first 11 days of March, from ~1mbd in Jan–Feb, with some cargoes already en route to China diverted to India. 🌏 The map tells the story The empty corridor between Sri Lanka and Singapore suggests fewer Russian cargoes from western ports heading to China, with flows instead targeting Indian ports. The US waivers may have facilitated this development, especially by allowing the use of OFAC sanctioned tankers, but it may persist as long as Hormuz remains blocked. 🚢 All signs points to pressure on dirty freight rates: → Less Russian crude on water → Shorter voyages (Russia → India vs Russia → China) → Potential further shrinkage of the grey fleet after developments in Venezuela, and with OFAC-sanctioned tankers being allowed for discharge → IEA-coordinated SPR releases replacing some of the seaborne flows. Track the market in real-time and see how shifting crude flows are reshaping global trade with Vortexa’s data: ow.ly/g7RW50Yts6v

New analysis by George Morris, Market Analyst: Yanbu VLCC liftings broaden as freight premiums surge Yanbu emerges as a key VLCC export hub as Aramco diversions boost liftings, widen participation and drive freight premiums to Asia vortexa.com/insights/yanbu…

One cargo. Two possible destinations. Shifting market conditions. The “good” trade becomes second best. The global optimum appears only when you can price more combinations, faster. That is where Anywhere Freight Pricing delivers value. Read the 3-step trade optimisation story: ow.ly/wpuZ50YrHFY

Anywhere Freight Pricing delivers: → Port-to-port pricing across all vessel classes → Unlimited route comparisons → Daily updates with a consistent methodology → Five years of historical context → Visibility into port and canal costs Built for screening, before execution. Bring three routes you struggle to price. We will show them live. ow.ly/JQjN50YrHI8

Since March 2nd, there have been zero new loadings from Qatar or the UAE. The immediate outlook is tightening: 11 laden carriers are currently stranded west of the Strait of Hormuz. Nevertheless, earlier Qatar loads are still reaching their destinations: over 20 laden vessels remain in transit beyond the chokepoint. The market is trying to adapt. Multiple Atlantic basin cargoes have diverted to Asia in recent days to capture open arbitrage windows, while QatarEnergy is reportedly offering 10 carriers for short-term charter, further highlighting concerns that a prolonged outage lies ahead. Even in nearby Oman, where exports remain stable, escalating insurance risks and shipowner reluctance could create new hurdles. Explore Vortexa LNG analytics: ow.ly/81qb50YrHCP

New analysis by Ken Lee, LNG Analyst: S Korea, Taiwan, and Singapore vulnerable to lost Qatari LNG South Korea, Taiwan, and Singapore are most vulnerable to the loss of Qatari term LNG supply following its force majeure declaration. vortexa.com/insights/korea…

VLCCs on the move: With the Strait of Hormuz at a standstill, we’re seeing 29 VLCCs diverting toward the Atlantic to pick up alternative barrels, as freight rates soar.
 Follow shifting tanker flows and how they reshape freight rates - all in one go: ow.ly/HXZn50YrsRs

New analysis by Emma Li, Lead China Oil Market Analyst: China’s crude import stress resistance in a Hormuz crisis This article assesses China’s exposure to a prolonged disruption at the Strait of Hormuz and the associated refinery run-cut risks. vortexa.com/insights/china…

Jet fuel markets East of Suez are expected to tighten as supply risks emerge around the Strait of Hormuz. Vortexa Head of APAC Analysis Ivan Mathews shared his perspective with Reuters on shifting arbitrage dynamics in jet fuel and diesel markets. As Ivan notes: “Reduced tanker transits through the Strait of Hormuz could tighten jet fuel markets East of Suez, lowering crude flows to Asia and prompting refinery run cuts that weaken regional fuel output.” Read the #Reuters article here: ow.ly/JpZW50YqkXa 👉 See all our analysis of the developing situation: ow.ly/eei350YqkXb

New analysis by Ioannis Papadimitriou, Lead Freight Analyst: AFP Insight: To stay or not to stay? 35 VLCCs wait and 22 approach as operators weigh MEG entry or diversion, while soaring Red Sea rates complicate decisions vortexa.com/insights/afp-i…

As Saudi crude diverts away from the Strait of Hormuz toward the Red Sea, cargo flows into Asia are being rerouted through less traditional corridors. One such route is Yanbu → Yeosu. Historically thinly traded, it’s now fixing at a premium as participants price in longer voyages, limited liquidity and the risk posed by Houthi attacks in Bab-el-Mandeb. Price discovery is complex for inactive routes, and even more so during times of unrest. Our Anywhere Freight Pricing model estimates fair market rates across every port pair in the region, currently tracking reported fixtures within  ~6–10%. If you’re following freight rate development in the area, take a look: ow.ly/Xb4w50Yqgiz

New analysis by Anna Zhminko, Associate Market Analyst: Asia crackers declare force majeure over naphtha crunch In this piece, we review the supply crunch for Asian buyers from ongoing tensions in the Middle East vortexa.com/insights/asia-…

Join Vortexa's APAC team for Energy & Freight Insights Live in Singapore, taking place in April at the Conrad Centennial in Singapore. Our Head of Market Analysis Ivan Mathews and the APAC analysis team will present insight-rich presentations on energy flows and LNG, followed by a lively panel discussion with industry experts. 📅 Thursday, 9 April 2026 | 09:30 - 14:00 SGT 📍 Conrad Centennial Singapore, The Pavilion, Level 4 Secure your place → ow.ly/FgaA50YoyTe