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Surging U.S. crude oil exports disrupt European, Asian prices | Hellenic Shipping News Worldwide

Surging U.S. crude oil exports disrupt European, Asian prices | Hellenic Shipping News Worldwide
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Surging US crude exports pushing down Asian prices

Surging US crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows. ....

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Surging U.S. crude oil exports disrupt European, Asian prices

Surging U.S. crude oil exports disrupt European, Asian prices
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Surging U.S. crude oil exports disrupt European, Asian prices

Surging U.S. crude exports
in 2023 are pushing down oil prices in Europe and Asia, proving
a key source of supply as producers cut output and sanctions on
Russian crude disrupt trade flows.
. ....

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Analysis-Surging U.S. crude oil exports disrupt European, Asian prices

Surging U.S. crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows. The introduction in June of U.S. crude grade WTI Midland to set the price of the dated Brent benchmark assessed by S&P Global Commodity Insights has not only spurred the rising exports but also helped to cap Brent and the European, African, Brazilian and Asian oil that are priced off the benchmark, traders and analysts said. U.S. crude exports are also easing the loss of supply after Saudi Arabia deepened output cuts from July, above what major producers agreed to in June. ....

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