Energy

China’s Top Refiner Pivots to Russian Crude

China’s Sinopec, the world’s top refiner by capacity, has boosted purchases of Russia’s Far East crude for delivery in the third quarter as it looks to secure cargo arrivals amid continued shipping constraints in the Middle East. State-run Sinopec has acquired as many as 30-40 shipments, or 241,000

Source: OilPrice.com

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DW NOTE

China's largest refiner is loading up on Urals crude while Western majors pretend sanctions mean something. Russian oil trades at a discount, gets paid in yuan, and flows to the world's biggest importer with zero interruption — the sanction theatre continues, the market adapts, and European refiners keep bidding up Brent to replace barrels that never actually left global supply.

Read the full story at OilPrice.com →

Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

China’s Top Refiner Pivots to Russian Crude

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

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