Crude Oil — Espo Receives Support From Mideast Crude

摘要

The spot market for Russia’s key Espo crude oil appears to have re- ceived some support from compet- ing Mideast light, sour Murban grade, which has firmed up recently. Demand for Espo, one of Russia’s two major export blends, could also be recovering slightly. The latest Espo tender was awarded at spot price differentials that were slightly firmer than earlier. A late February to early March-loading cargo was sold at a premium ranging from $1.80/bbl to $1.90/bbl to Dubai to a Japanese refiner. The tender’s second cargo — an early to mid-March loader — was sold at a premium of around $2.20/bbl to Dubai to a South Korean refiner.