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OIL
European crudes, such as Troll and Oseburg, climbed to a premium of $5/b against North Sea Dated, the highest since Aug. 2022 amid a tight market, according to Kpler citing Argusmedia’s price assessments.
- The tightness in the European market is being driven by a reduction in autumn maintenance turnarounds, lower distillate stocks, and declining imports from the Middle East, Kpler said.
- The fall in arrivals from the Middle East and the tight distillate stocks has given a particular boost for medium grades such as Johan Sverdrup, which hit a record $5.10/b premium over North Sea Dated.
Source: Kpler
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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