Monday, August 31, 2026
Russia sells crude at record premiums to Asia after freight rates surge - oil and gas 360

Russia sells crude at record premiums to Asia after freight rates surge

Source: Reuters Russia, the world’s No. 2 oil producer, has become an unintended beneficiary of U.S. sanctions after an embargo on Chinese ships drove up tanker freight rates, spurring record premiums for Russian crude that takes just days to arrive in North Asia. Demand for key Russian oil grades sold in Asia has been strong in the past month after