Dated Brent June News Today

Supply disruptions out of Kazakhstan, the North Sea and Libya and dislocations to typical trade flows as the market adapts to the Russia situation have driven the European crude market structure into an extreme backwardation, with buyers being forced to pay hefty premiums for prompt cargoes. The extreme backwardation — where prompt cargoes trade higher ...

Unwavering and exceptionally strong product cracks for diesel and jet fuel have steadied Nigerian crude values against increasingly challenging arbitrage flows to key markets, contrary to some expectations earlier in the July trade cycle. Arbitrages to Asia and Europe for Nigerian grades have looked increasingly arduous given historic levels of backwardation in Dated Brent. Steep ...