The Crude Report: Alaskan oil prices rise on Russian supply halt

Author Argus

Alaskan North Slope (ANS) crude assessments against Ice Brent have climbed to a record-high on stronger refinery margins at the US west coast and a halt in Russian crude imports.

ANS for delivery to the US west coast in October has been selling at a $6.75/bl premium to CMA Ice Brent, the highest premium against the basis since the Argus assessment was launched in January 2018. The US west coast premium for ANS is up by over $6/bl from a year ago as demand for transportation fuels rebounds from Covid-19 pandemic lows and competing Russian crude supply is banned from US west coast refiners.

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