Battle of oil benchmarks upends crude flows
Increased volatility in spreads is expected to intensify price war among producers as they compete for market share
Singapore
THE oil tanker Tofteviken is set to sail from the UK this month carrying the first shipment of North Sea Ekofisk crude to the US Gulf Coast in five years.
More than 11,000 kilometres away, the Syros Warrior is due to deliver Siberian oil to the Chinese port of Qingdao, part of a record surge of cargoes that's helped Russia overtake Angola as the Asian nation's second-biggest supplier. Back in Texas, a tanker of crude is scheduled to sail for China in what will be one of the first shipments to leave the US after an export ban was lifted.
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Energy & Commodities
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data
Oil settles lower as US business activity cools, concerns over Middle East ease