US returns to the market

摘要

US refiners are beginning to make a dent in high crude stocks as they return from maintenance,pushing US benchmark WTI back to a premium to Atlantic basin marker dated BFO.Improving arbitrage opportunities from the North Sea to the US have brought Brent back in line with fellow benchmark grades Forties and Oseberg (see upper graph).One VLCC of April-loading Brent is already poised to go transatlantic.