Zero bidders. That was the outcome of a recent attempt to sell Russian crude typically favored by Asian buyers as more of the nation’s oil is shunned after its invasion of Ukraine. Sokol oil from the Sakhalin-I project in Russia’s Far East was offered by ONGC Videsh for May-loading, with the latest price indications showing deep discounts for the grade. The failure to attract bids follows a similar pattern to Russia’s Urals crude, which has struggled for buyers despite being incredibly cheap. Sokol is a favorite crude of Asian buyers such as South Korea, China, and Singapore, as well as Hawaii. The lack of interest could provide a sneak peek into what’s to come next week when another Far East Russian grade — known as ESPO — begins trading for […]