The United Arab Emirates has started shipping rare cargoes of oil toward Europe, where crude buyers are snubbing imports from Russia in the wake of the nation’s invasion of Ukraine.
Sea-borne oil has thrown a lifeline to refiners in eastern Germany and Poland, with non-Russian deliveries into the Polish port of Gdansk hitting at least seven-year highs this month as they switch away from Russian supply.
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By Shadia Nasralla LONDON, May 17 (Reuters) – Sea-borne oil has thrown a lifeline to refiners in eastern Germany and Poland, with non-Russian deliveries into the Polish port of Gdansk hitting at.
Kuwait Petroleum Corp. dropped its official selling prices for June crude across all grades destined for Asia and Europe, while leaving US prices unchanged, the company said in an email May 11. KPC cut its OSP differential for Kuwait Export Crude’s OSP bound for Asia by $4.95/b to a $4.35/b premium over the average of .