World’s Top Oil Trader Ships First Russian ESPO Crude To UAE

World’s Top Oil Trader Ships First Russian ESPO Crude To UAE

Vitol Group, the world’s biggest independent oil trader, is shipping the first-ever cargo of Russia’s ESPO crude blend to the United Arab Emirates (UAE), Reuters reported on Wednesday, citing data from oil-flow tracking and analytics firms. The Kriti Breeze oil tanker loaded 740,000 barrels of Russia’s ESPO crude at the port of Kozmino in Russia’s … Read more

Major Oil Traders Cut Russian Crude Purchases Starting Next Month

Major Oil Traders Cut Russian Crude Purchases Starting Next Month

Major crude trading houses are set to slash their purchases of Russian crude oil and crude products starting mid-May, anonymous Reuters sources said on Thursday. The move that will see a curtailment of Russian crude purchases comes as traders steer clear of any actions that would violate European sanctions against Russia that go into effect … Read more