Reported about 17 hours ago
Chinese buyers are re-engaging with Russia's ESPO crude as shipping prices stabilize due to workarounds for US sanctions. Cargoes from Russia's Kozmino port are now being offered at lower premiums, providing relief for smaller Chinese processors seeking alternatives to limited Iranian supplies. Despite disruptions from sanctions earlier this year, trade volumes are increasing, with Russian oil shipments to China hitting a 16% rise, signaling a rebound in the market.
Source: YAHOO