In the second quarter of 2026, the European Union recorded a substantial 55.8% increase in the total value of its petroleum oil imports. This rise in value occurred even as the physical volume of these imports remained largely consistent, showing a marginal 1.2% increase to 36.7 million tonnes compared to the monthly average of 2025. This indicates a significant increase in the price per barrel or tonne of imported oil.
For liquefied natural gas (LNG), the trend was slightly different. The import value for LNG grew by 4.1% during the same period. However, the volume of LNG imported by the EU actually decreased by 5.6%.
For freight forwarders and supply chain analysts, these figures suggest an environment of higher energy costs, particularly for crude oil. While the volume stability indicates no major shifts in demand or supply for the physical commodity, the sharp increase in value will impact operational expenses for carriers and shippers, especially those with significant fuel surcharges or exposure to bunker prices. The slight decrease in LNG volume, despite a value increase, might point to a combination of higher prices and potentially reduced consumption or diversification of energy sources. This could lead to upward pressure on overall logistics costs across various transport modes.