Asia continues to prefer buying cheaper Russian oil and hasn’t turned to Brent-linked cargoes from the Atlantic Basin despite the recent 10% slump in Brent oil prices, which has narrowed Brent’s premium over Middle Eastern benchmarks to the lowest in over two years, traders told Reuters. Brent Crude prices have plunged by around 10% since the turmoil in the U.S. and European banking sector roiled global markets. Brent hit a 15-month low early this week before clawing back some losses to trade at $74 per barrel early on Wednesday in…
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