G7 price caps on Russian oil products may lead to buildup of stocks on water: Vitol’s Muller

The G7 price cap on Russian oil products that went into force on Feb. 5 will likely lead to “on-the- water stock buildup” as buyers, sellers, insurers, shipowners and banks await clarity on the legality of dealing with these supplies, the head of Vitol Asia said Feb. 5. “There will be on-the-water stock build to the extent the uncertainty remains…