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Russia’s ESPO Crude Cargoes To China Offered at Smaller Discount

OIL

Some cargoes of Russian ESPO crude for October were offered at 50-80c/bbl discount to ICE Brent price on delivered basis, according to traders with knowledge of the matter.

  • That compares to a discount of around $2/bbl for September arrival cargoes of the grade.
  • Russian average seaborne crude flows in the four weeks to 20 August dropped to 2.84mbpd, Bloomberg tanker-tracking data show, the lowest level since January. The latest four-week data will be published today.

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