Cheaper options make Brazilian crude vanish from China independents’ radar

Brazilian crude flows to China’s independent refineries in May fell to zero for the first time since January 2016 as buyers turned to attractively-priced barrels from Russia and Iran, a move that would potentially help the refiners to boost their refining margins, S&P Global Commodity Insights’ data showed June 8. Once a strong favorite of the Shandong-based independent refiners, shipments…