Asian demand pushes European oil premiums to record highs
Crude premiums hit record highs as Asian buyers seek alternatives to Middle Eastern supplies. Shipments from Europe and West Africa to Asia rose during March.
Xurve View
Insights:
Xurve View
The European and African oil markets are experiencing significant tightening, with crude differentials reaching record highs as peak summer demand approaches. This shift comes as Asian buyers aggressively seek alternative supplies to compensate for shortages caused by the ongoing blockade of the Strait of Hormuz by Iran, which has now entered its fifth week.
