U.S.-Asia Oil Arbitrage Narrows as Freight Costs Surge ...Middle East

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U.S.-Asia Oil Arbitrage Narrows as Freight Costs Surge
source : OILPRICE ( Middle East ) () 133
The arbitrage window for U.S. crude sold in Asia is shrinking amid higher tanker rates and a climbing WTI price, Reuters has reported, citing traders. The publication cited LSEG data showing that Very Large Crude Carrier rates jumped to 12.5 million last week, which was the highest since March 2023. The rate increase resulted from increased demand for U.S. crude from Asian buyers that emerged during the summer. Since then, rates have eased somewhat to $12 million but remain elevated enough to sap appetite. The additional cost for carrying crude…

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