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OIL: Potential Restart Of Kurdish Flows Could Ease Heavy Sour Shortage In Med.

OIL
BulletEnergy BulletsCommodities

Restart of Kurdish flows may ease heavy sour crude shortage in the Mediterranean, but traders are sceptical that an increase will take place as planned, Bloomberg reports. 

  • There have been no offers of Kurdish oil yet, traders involved in the market told Bloomberg.
  • The sour crude market in the Mediterranean is very tight with supplies from the Middle East being offered at very high prices, traders said.
  • Despite high prices, there were not many cargoes available, especially from the Middle East.
  • The restart of Kurdish flows may also put downward pressure on Johan Sverdrup, one of the few heavy sour grades in the North Sea, Bloomberg reports.
  • Johan Sverdrup was last traded at a premium of $1.70 to Dated on Feb. 12, the highest in more than a year. The grade is now more expensive than most light sweet grades in the North Sea, according to Bloomberg.  
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Restart of Kurdish flows may ease heavy sour crude shortage in the Mediterranean, but traders are sceptical that an increase will take place as planned, Bloomberg reports. 

  • There have been no offers of Kurdish oil yet, traders involved in the market told Bloomberg.
  • The sour crude market in the Mediterranean is very tight with supplies from the Middle East being offered at very high prices, traders said.
  • Despite high prices, there were not many cargoes available, especially from the Middle East.
  • The restart of Kurdish flows may also put downward pressure on Johan Sverdrup, one of the few heavy sour grades in the North Sea, Bloomberg reports.
  • Johan Sverdrup was last traded at a premium of $1.70 to Dated on Feb. 12, the highest in more than a year. The grade is now more expensive than most light sweet grades in the North Sea, according to Bloomberg.