The flow of Atlantic basin crudes to Asia-Pacific rose to close to a record high in June, as regional refiners stocked up on heavy sweet grades. Sales of June-loading west African crude to Asia-Pacific reached a high of 2.1mn b/d, consultancy Oil Movements says. Eastbound sales exceeded shipments to the US and Europe for the first time. A sharp fall in US demand for Nigerian and other west African crudes this year has depressed these grades against North Sea prices, encourag- ing Asian refiners to take more cargoes.
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