Record West African crude spreads spur recovery in Angolan trade

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Price spreads between comparable West African crudes have reached record highs, restoring interest in a previously beleaguered Angolan segment after values soared in adjacent markets. Spiking European middle distillate cracks in the lead-up to June trading combined with tightening crude supply in the North Sea and Mediterranean has left refiners scrambling for West African crudes to maximize output of diesel…