Steeper crude backwardation puts pressure on African crude oil
Oil Markets · S&P Global Energy
July 15, 202110m 38s
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Show Notes
Against a backdrop of growing Coronavirus infections and OPEC+ discord, oil prices keep rising. How can long-haul crude cargoes stay competitive as backwardation in the forward curve widens and puts pressure on Asia-bound oil from West Africa and Europe?
In this episode of the Oil Markets Podcast, S&P Global Platts reporters Emma Kettley and Nick Baldwin discuss with Joel Hanley why a stronger backwardation is boosting certain crude grades while hitting others.