Tight fundamentals lift Brazil’s Tupi crude premiums

摘要

Singapore—Spot premiums for Brazil’s Tupi crude, formerly known as Lula crude, have surged in recent weeks on the back of tighter supply and demand fundamentals for the grade, market sources said. The crude was most recently heard sold to China at a premium of around $2.50/b to April ICE Brent for a February-delivery cargo, DES Qingdao, the sources indicated.