Light sweet crude sellers eye US

摘要

Crude prices surged following a sharp fall in US gasoline stocks,which exacerbated concerns about supply tightness as the peak summer driving season approaches.Renewed US demand as refiners return from maintenance and produce more gasoline helped reopen the arbitrage from the North Sea to the US.With US marker WTI back at a premium to European benchmark dated BFO early in the week and freight rates at relatively low levels,sellers of grades such as Brent are aiming cargoes at the US,enabling the benchmark-setting grade to come back into closer alignment with other benchmark grades Forties and Oseberg.