China imports Russian oil
Reports have shown that Chinese refineries have accelerated their purchases of Russian Espo crude shipments ahead of the usual schedule, aiming to secure supplies amid increasing risks to oil flows from the Middle East. All scheduled August shipments from the Kozmino port have been sold, with rising demand leading to a reduction in the price spread between Espo and Brent to about one dollar per barrel. This shift in trading patterns allows refineries to benefit from lower crude prices and easier refining processes, with expectations that tensions will continue to drive an accelerated pace of purchases—especially given the potential imposition of American tariffs on Russian and Chinese oil.
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