Asian refiners shift to African, Brazilian crude as freight rates fall

Asian buyers, including Sinopec and SK Energy, are increasing purchases of African and Brazilian crude grades as tanker rates from the Persian Gulf remain near historic highs, while South American and African freight costs have declined. This marks a shift in crude sourcing patterns that could alter regional pricing dynamics and tanker demand. The trend is based on unnamed trader and shipbroker sources, so the scale of the shift is uncertain.

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