Russian ESPO crude oil premiums hit 4-year highs on strong China demand

Omkar Godbole FXStreet Contributor

Spot premiums for Russian ESPO Blend crude hit four-year highs, courtesy of the big jump in Chinese demand for oil, multiple trade sources said on Thursday, according to a Reuters report.

Producers Surgutneftegaz and Gazprom Neft have reportedly sold three cargoes loading in the first week of November at premiums of $5 to $6 a barrel to Dubai quotes.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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