Russian Fuel Cargos Pile Up at Sea as South Korean Buyers Grow Cautious
Russian oil product cargos are piling up at sea as their South Korean buyers grow reluctant to go through with their deals amid a government crackdown on sanction evasion, Bloomberg has reported, citing unnamed sources. According to Kpler data, there are over 2 million barrels of Russian naphtha sitting off the coast of Oman, which is significantly higher than the weekly average for January and February, which came in at some 790,000 barrels. The Bloomberg sources said that the buildup was caused by the South Korean government’s closer…