Asian buyers snap up US crude, adding stress to tight market
“For US refiners, Mars will be at the epicenter of this tightness.” — Nikolas Plonski, Analyst – Americas at Sparta.
- Expert: Nikolas Plonski (Analyst – Americas, Sparta)
- Publication: Bloomberg
- Market Focus: Crude Oil, Sour Crude Grades, US Exports
- Geographies: US, Asia, Europe
In an analysis for Bloomberg, Sparta’s Analyst – Americas, Nikolas Plonski, flags that a near-doubling of Asian purchases of US crude for September is set to squeeze domestic sour grades just as refiners run at record rates. Mars crude is already trading at a $2.50-a-barrel premium to WTI, edging toward a three-month high, though still well off April’s $18 blowout. With no further SPR releases planned and Venezuelan barrels only partially offsetting the gap, sour crude availability is the key pressure point. Traders should watch Mars-WTI spreads and US export data for signs of further tightening as Asia’s buying likely diverts barrels away from Europe.
[Read Nikolas Plonski’s full market commentary in Bloomberg]
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