China paying a premium for select crudes illustrates demand’s return – Lula crude

For a sneak peek at the return of Chinese oil demand, look no further than the rebound in price of the nation’s favorite grades.

In the last few days a Chinese state-owned refiner bought Brazil’s Lula crude for August arrival at a premium of about 50 cents a barrel to Brent on a delivered basis, according to four traders in Asia. That’s a sharp recovery from the middle of April when the same grade traded at a discount of around $6.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.