Arab Today, arab today trafigura to ship west texas oil to israel
Last Updated : GMT 09:06:17
Arab Today, arab today
Arab Today, arab today

Trafigura to ship West Texas oil to Israel

Arab Today, arab today

Arab Today, arab today Trafigura to ship West Texas oil to Israel

Trafigura
London - Arab Today

Swiss commodities house Trafigura will ship one of the first cargoes of benchmark US crude oil to Israel in the coming weeks, as the end of a decades old export ban lets American oil flow to international markets, The Financial Times reported.

Shipping West Texas Intermediate to Israel is profitable due to a glut of oil, which has pushed storage capacity at the crude’s main storage hub close to its limit, and so may relieve downward pressure on the most actively traded US oil contract, which has fallen to a 12-year low.

The move also represents vindication for the oil companies and politicians that lobbied for the lifting of the US export ban — a legacy of 1970 Arab oil embargoes — arguing it would give Israel and European allies an alternative to Opec and Russia.

The 700,000 barrel cargo is expected to be part of a flotilla of vessels booked this week to carry the first overseas shipments of WTI since the 1970s.

Stocks at the giant storage hub of Cushing, Oklahoma — known as the “Pipeline Crossroads of the World” and the delivery location for the WTI contract — have hit record levels, attracting nimble traders.

“Trafigura has sold prompt loading WTI to the Israeli refining system,” said Ben Luckock, Trafigura’s global head of crude oil.

Mr Luckock said it was currently profitable to ship WTI to Europe and Israel for contracts due to be delivered in March. “We believe a number of vessels of WTI crude oil have recently been fixed to Europe.”

Source: MENA

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today trafigura to ship west texas oil to israel Arab Today, arab today trafigura to ship west texas oil to israel

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today trafigura to ship west texas oil to israel Arab Today, arab today trafigura to ship west texas oil to israel

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday