China Rushes to Secure Russian Oil as Middle East Supply Risks Escalate
Chinese refiners have rapidly purchased all crude oil cargoes from Russia’s Far East port Kozmino for August amid rising risks to Middle Eastern oil supplies due to tanker attacks in the Red Sea. This increased demand has narrowed the discount on Russian ESPO crude blend against ICE Brent prices.
China Russian oil Kozmino port Middle East risk crude oil prices
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