The discounts reached the lowest level since independent Chinese refiners joined the list of buyers in late 2019, filling a vacuum left by Chinese state refiners that preferred to be careful not to fall under sanctions that the United States re-imposed on them. Iran A year earlier.
Higher prices or lower flows of Iranian oil, which constitute ten percent of imports China of crude oil, adding pressure to already low production at independent refineries as well as further pressure on thin refining margins amid slowing fuel demand in China.
Four sources familiar with or involved in Iranian oil transactions said that price differences… Iranian crude Light crude oil fell to less than four dollars a barrel less than the global standard Brent crude, while Iranian heavy crude oil reached seven dollars less than Brent, according to Reuters.
