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Middle East Crude-Benchmarks mixed; Saudi Arabia, Russia deepen output cuts | Hellenic Shipping News Worldwide

Middle East Crude-Benchmarks mixed; Saudi Arabia, Russia deepen output cuts | Hellenic Shipping News Worldwide
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Premiums for Southeast Asian crudes to slip amid demand-supply imbalance, wide EFS

Singapore Spot cash premiums for June-loading barrels of Malaysian and Vietnamese crude oil have eased on the month amid demand concerns as COVID-19 cases spike in Asia, ample availability of arbitrage cargoes, and a wide Brent/Dubai EFS, market participants said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now COVID-19 resurgences in key demand centers in Asia, such as Thailand and India, raised concerns on demand for regional crudes weakening, they said. There is a potential for further lockdowns in Thailand and India due to COVID-19. Thailand is one of the biggest buyers of regional crude, if the movement restrictions increase, the demand for regional crude will not be good, said a source with a trading house.

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