Industry insiders revealed that Chinese crude oil buyers suspended some Russian crude oil and waited for the United States to lead the details of Russia's implementation of price limit measures to see if they could get more favorable prices.
According to Bloomberg, traders who understand the situation pointed out that the Russian ESPO crude oil that was shipped in December was still not sold. Before the exact price limit was further clarified, the seller and the Chinese buyer deal with the transactions.Hesitant.
According to a document seen by the reporter, the European Union suggested that the transition period of 45 days before the implementation of the Russian oil price limit, which is consistent with the previous arrangements announced by the United States and the United Kingdom.For the terms of shipping services, the EU's position is also loose.Diplomats of various countries are scheduled to discuss on Wednesday (November 23).
Due to the high output of diesel and short transportation distance, ESPO crude oil is quite popular in China.Traders said that even if many market participants do not formally support the upper limit of the price, they seem to be open to the upper limit of this price, as long as they are not seriously disconnected from the current price.
However, if the upper limit is set too low, then the party responsible for shipping and insurance premiums (according to the terms of the contract, the buyer or the seller) may need to seek relevant services from the non -EU provider, so the entire entireThe complexity of the process has greatly changed the economic benefits of transactions.
