U.S. and Canadian refiners have turned to North Sea "Forties" crude oil for the first time in seven years in the latest sign of changing global oil flows from Russia's invasion of Ukraine. The light, low-sulfur Forties crudes are blended with others to replace Russian crudes that have been barred from the U.S. and Canada. The April deliveries will bring U.S. imports of crude oil from the United Kingdom to the highest since December 2021. Flows of North Sea crude to France have declined to their lowest this year, Refinitiv Eikon showed. "There's definitely been a distinct change in flows into the East Coast," Smith said.

Source: The North Africa Journal April 07, 2023 06:55 UTC