Lillian Tveit/Shutterstock Save for later Print Download Share LinkedIn Twitter A brighter Chinese demand outlook and solid diesel crack spreads underscore firmer spot offer levels in the physical crude market. But Brent is now trading April barrels, which is peak maintenance period for most refineries and usually the harbinger of lower spot requirements. The North Sea and Mediterranean are well supplied and have seen a surge of US WTI crude exports to Europe, as well as an uptick of West African cargoes. The market shrugging off a 500,000 barrel per day oil production cut by Russia from March shows that, for now, there is no shortage in prompt supply.
