S. Korea pays less for US crud...

S.Korea reduced imports in March because of more attractive feedstock trading economics for American barrels, as Persian Gulf-Asia tanker insurance costs rose in wake of geopolitical tensions in MEG.

Asia's 3^rd biggest crude importer took 28.061 million barrels from S. Arabia in March, down 12.3% from year earlier, while US imports, mostly light sweet grades including WTI Midland, rose 17.6% YOY to 12.26 million barrels. Read More