Exxon, Trafigura tap lower shipping rates as U.S.-Asia arb reopens
October 17, 2019 at 18:54 PM EDT
U.S. crude exports to Asia, which have slumped due to record freight costs, stirred on Thursday as rates slid and the premium in Asia for Russia's ESPO Blend oil sent buyers back to U.S. grades, according to market sources.