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China independent refiners scramble for oil, underpinning spot premiums
Source: reuters.com
Energy Markets & PricesCommodities & Raw MaterialsSanctions & Export ControlsTrade Policy & Supply Chain
Chinese independent refiners are rapidly purchasing crude from West Africa, Canada and South America to replace declining Iranian and Russian supply availability. The buying has lifted spot crude premiums to multi-month highs, supporting non-sanctioned export grades and redirecting global oil trade flows.
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