Market Eye: Atlantic Crudes Flow to Asia, Threaten Espo Market

摘要

Benchmark Brent crude has been losing ground quickly to its perennial Mideast competitor Dubai. Brent has fallen so sharply versus Dubai that North Sea and West African crudes are being pulled into the Asia-Pacific region (IOD Jun.29'15). Several very large crude carriers (VLCCs) of North Sea crude are believed to be heading to Asia, but some buyers may hold off on buying more West African crudes until upcoming Mideast official formula prices are announced.