West African Sellers See Firm Demand Into September

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  • Arbitrage to Asia and cheap freight rates are supporting a further uptick in Asian buying of West African crude.

  • European demand is perking up thanks to robust crack spreads on gasoline and diesel.

  • India is showing more interest in West African fare as discounts on Russian crude shrink.

Sellers of West African crude anticipate another solid month as the open arbitrage window to Asia and cheap freight are expected to support a further uptick in eastern buying. Also, a late driving season appetite is improving refining cracks and spurring demand in Europe.

Oil Inventories, Oil Prices, Oil Trade, Opec-Plus Supply , Crude Oil
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