USA oil shipments to Asia may hit new high in July, cool Mideast crude prices – Feedback

Volume of USA crude oil arriving in Asia is expected to hit a new high in July as Asian refiners sought arbitrage supplies to replace Middle Eastern crude after prices for Gulf grades rose, traders said on Wednesday.

USA crude arriving in Asia hit an all-time high of close to 25 million barrels in May with cargoes discharging in China, South Korea, Singapore, India and Malaysia, according to trade flows data on Eikon. The volume dips to about 19 million barrels in June, but is set to rebound again in July after USA crude futures slipped to the widest discount in three years against Brent at $8.06 a barrel this week, according to traders and Eikon data.

https://www.todayonline.com/world/us-oil-shipments-asia-may-hit-new-high-july-cool-mideast-crude-prices

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