European refiners look to buy local crude as freight costs eat into margins | Hellenic Shipping News Worldwide
High freight rates and strong distillate demand have European refiners cutting back on US crudes, opting instead for local crudes like Forties or Russian Urals as they return from seasonal turnarounds, an analysis from S&P Global Platts showed Nov. 1. An added incentive to running heavier, more sour crudes is the higher distillate cracks produced ...
Source: hellenicshippingnews.com