, owner of the world's biggest refining complex, and has scooped up discounted Russian Urals crude at record speed since the start of the war. Daily shipments hit 674,000 barrels last month, more than doubling from March, according to S&P Global’s Commodities at Sea. Russian daily loadings to China, meanwhile, rose just 10% to 781,000 barrels.Some European countries, despite Brussels’ decision of a ban in six months, are also dragging their feet.
That gives the People's Republic some cover. Russian cargoes factoring in transportation and insurance costs carried discounts of $8 a barrel or more to Brent, according to Bloomberg. China's Shandong Port International Trade Group, which handles approximately a quarter of the country’s crude oil imports, hasMore Chinese buying is set to follow.
ywchen1 Red blood oil.
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