US crude exports jump despite Europe, Asia arbitrage pressure | Hellenic Shipping News Worldwide
US crude exports jump despite Europe, Asia arbitrage pressure Weekly US crude exports jumped 1.1 million b/d to 3.36 million b/d over the week ended on Jan. 22, according to data from the US Energy Information Administration Jan. 27, despite difficult arbitrage economics. The rise took exports to their highest average weekly export level since the week ended on Jan. 1, and kept the four-week moving-average above 3 million b/d. The arbitrage for WTI MEH crude into Rotterdam against local Forties crude fell to a minus 34 cents/b incentive on Jan. 26 and has averaged just a 4 cents/b incentive t...
Source: hellenicshippingnews.com