US Crude Imports from Nigeria Hit 16-Month High as Hormuz Closure Bites

🛢️ NIGERIA — US at 16-month high on Nigerian crude — that's Hormuz closure in the data. 📌 LOOK CLOSER: With Hormuz at 99% closure and Gulf flows near zero, US refiners are sourcing Atlantic Basin crude at a premium. Nigeria fills a gap — but not cheaply, and not at Gulf volumes. This reveals the hidden cost of the stalemate: structural rerouting raises baseline input costs for US industry regardless of any November strike decision.