US West Coast refiners snap up Russian crude to avoid seasonal shortage

Singapore

REFINERS on the US West Coast and Hawaii have stepped up purchases of Russian crude, taking advantage of a narrow gap between US and global prices to guard against a seasonal shortage of Alaskan supply, trade and industry sources said.

Up to four tankers were expected to carry nearly three million barrels of Russia's ESPO crude from Kozmino near the city of Vladivostok to refineries in the US this month and next, the sources said.

That will help Russia diversify beyond key buyers in China, South Korea and Japan at a time when Asian markets are battling oversupply. Sanctions against Russia over its actions in Ukraine bar US companies from drill…