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Asia's Crude Buying Spree Is Running Out of Steam

Asian refiners have reduced their spot purchases of Middle East crude for loading this month and next, following three weeks in which the…

Source OilPrice AI Summary Updated 2h 11m ago

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Asian refiners have reduced their spot purchases of Middle East crude for loading this month and next, following three weeks in which they had purchased millions of barrels of UAE, Saudi, and Iraqi crude. Lingering uncertainties about the navigability of the Strait of Hormuz and high freight costs have deterred Asian buyers from continuing the buying spree…

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