ESPO Blend crude buyers hold back

摘要

Sellers of Russian ESPO Blend crude have been forced to cut offer prices because of buyers'reluctance to take cargoes loading in April at the Kozmino terminal in Russia's far east.Regular buyers of the light sweet grade are wary of taking ESPO Blend because of fears that further sanctions on Russia,following the invasion of Ukraine last week,may create problems with payment or hinder exports.But most refiners in Asia-Pacific have already covered the bulk of their April crude requirements and are in no hurry to take more.China is ESPO Blend's key market.