Vitol Books Second Crude Cargo for Export After U.S. Lifts Ban
HOUSTON, Dec 30 (Reuters) – The world’s largest oil dealer Vitol SA has secured a second cargo of U.S.-produced crude for export, simply weeks after the U.S. authorities lifted the ban on exporting home oil.
Producer ConocPhillips mentioned it’ll promote crude and condensate produced within the Eagle Ford shale of Texas to Vitol. The cargo will load out of NuStar’s North Beach terminal in Corpus Christi on Dec. 31, NuStar mentioned in an announcement.
Last week, Enterprise Products Partners mentioned it will present logistics and terminaling providers for Vitol to load a 600,000 barrel cargo of home mild crude within the first week of January.
With U.S. crude futures buying and selling close to parity or at a premium to the Brent benchmark up to now week, some merchants are questioning the financial viability of such exports.
On Wednesday, U.S. West Texas Intermediate benchmark futures settled at a 14-cent a barrel premium to Brent <cl-lco1=r>.
The extremely seen commerce by the privately held service provider comes as a troublesome yr for commodity outlets together with Noble Group Ltd and Glencore PLC attracts to an in depth with costs of uncooked supplies from oil to copper languishing at multi-year lows.
(Reporting by Liz Hampton and Jarrett Renshaw; Editing by Richard Chang)
(c) Copyright Thomson Reuters 2015.