Tight market for lighter, sweet crude grades across US, Europe Buying interest not matched for heavier, sour grades OPEC focusing on physical market over futures Freight, arbitrage economics seen putting off long-haul crude purchases OPEC’s claim that there is no shortage in the physical oil market appears at odds with the upward trajectory of the futures market. Varying appetites for different quality and regional crudes is the missing link. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now While the level of buying interest in Middle East barrels appears to better match OPEC’s strategy to steadily bring crude back to the market, the bullish narrative that has pushed Brent above $85/b is led by appetite for sweeter grades, according to market participants and analysts. There is little doubt the market is well supported given strong signs crude demand is recovering, jitters over the […]