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OIL: Aliaga Refinery Fire May Lower Med Crude Prices

OIL
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The fire at Tupras’ Aliaga refinery, Turkey, might put some pressure on light sweet grades in the Med, especially CPC, though the real impact will depend on how long the unit will be shut, traders told Bloomberg.

  • A fire broke out at the Aliaga refinery late Nov. 25, affecting one crude unit. The fire was extinguished.
  • Tupras Aliaga refinery imported two Aframax cargoes of CPC Blend for October loading, according to Bloomberg.
  • CPC blend is now traded around a 50 cents/b to $1/b discount to Brent, CIF Augusta.
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The fire at Tupras’ Aliaga refinery, Turkey, might put some pressure on light sweet grades in the Med, especially CPC, though the real impact will depend on how long the unit will be shut, traders told Bloomberg.

  • A fire broke out at the Aliaga refinery late Nov. 25, affecting one crude unit. The fire was extinguished.
  • Tupras Aliaga refinery imported two Aframax cargoes of CPC Blend for October loading, according to Bloomberg.
  • CPC blend is now traded around a 50 cents/b to $1/b discount to Brent, CIF Augusta.