West African differentials drop with high freight, growing competition
Soaring freight costs are breaking global crude oil arbitrages and having a particular effect on WAF barrels, with differentials coming under pressure. Key takeaways • West African differentials plummet to multi-year lows: Discounts on unsold October and November cargoes collapsed. Angola’s Hungo hit its widest discount since 2011 • Soaring freight costs sever long-haul arbitrages: ...
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