Transatlantic moves defy weak WTI

摘要

Premiums for light sweet Nigerian grades to dated BFO rose,despite forward BFO trading above US benchmark WTI.But expensive Nigerian crude has buyers looking at more competitive light sweet grades,such as Azeri Light and Saharan Blend(see upper graph).Azeri sales are likely to begin rising in November when output increases.Sellers will offer 10 arbitrage-friendly lmn bl cargoes in November,compared with the usual monthly level of five.