US sour crude grades included in the Argus Sour Crude Index have tightened their discounts to light sweet WTI Houston in August. The upcoming refill of the US Strategic Petroleum Reserve (SPR) in August will see 3mn bl of US-produced sour crude returned to the Big Hill site near Houston.
Global support for medium sour grades has come from Opec+ supply cuts from Russia and Saudi Arabia.
This new episode with Gus Vasquez, Americas crude editor, and Scott Phillips, Americas crude market reporter.
Transcript to follow