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Forties Crude Demand from Asia Rises

OIL

Forties October crude supplies are facing increased demand from Asian buyers according to Kpler and LSEG data pushing it to a $2.15/bbl premium to dated Brent October 6 – its highest since August 2022.

  • China is leading the charge as it looks to replenish its domestic stockpiles after recent draws according to Kpler.
  • As many as 4-5 mn bbls of Forties will be shipped to Asia in October out of a scheduled loading plan of 5.6mn bbls.
  • Total flows of Forties to Asia totalled 8mn bbls for the first 9 months of the year.

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