- Global trading firms Vitol and Trafigura are pushing for steeper discounts on Venezuelan Merey crude, seeking $18 to $20 per barrel below Brent, according to five sources familiar with the talks.
- Rising freight rates are compressing trader margins: an Aframax tanker charter from Venezuela's Jose port to the US Gulf now costs about $3.5 million, per Signal Maritime.
- The discount pressure reflects a widening gap between Venezuelan export logistics costs and the resale economics of Merey barrels into Gulf Coast refineries.
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“Jose port-US Gulf Aframax tanker charter cost rises to about $3.5 million, Signal Maritime says”