Citi said on Thursday that near-term risks to oil prices remain skewed to the upside despite a recovery in Gulf crude exports, as shipping bottlenecks continue to keep delivered supplies tight.'The normalization of Arab Gulf oil exports has been volumetric rather than logistical, with unprecedented shipping inefficiencies keeping delivered crude costs elevated,' Citi saidMore than 1 million barrels per day of Gulf crude exports were moved via ship-to-ship transfers in September…
The discount for Russian Urals oil on a FOB basis for cargoes loading from the Baltic port of Primorsk in April narrowed to $15-$17 per barrel versus dated Brent from about $24-$27 per barrel in the second half of March, as falling freight rates reduced costs for Russian sellers…
The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues with action against tankers carrying Russian crude, three sources with knowledge of the matter said.President Joe Biden's…
