Russian ESPO Oil Sellers Seek Record Premiums as Gulf Exports Face Uncertainty
Russian sellers have raised ESPO Blend offers to China to record levels, traders said. Strong demand and higher freight costs linked to the Iran war are supporting offers, though some independent Chinese refiners may balk as margins turn negative.
Russian oil sellers have raised ESPO Blend offers to China to record levels, supported by strong demand and higher freight costs driven by the Iran war, although some independent Chinese refiners may baulk as margins turn negative, traders said.Far East ESPO Blend cargoes for end-December and Janua…