In our latest crude market commentary:
> ICE Brent spreads hit the hardest by flat price tumble, narrowing TI/Brent & EFS
> North Sea and Med/Black Sea landing in Far East now more competitively vs variety of global crudes
> Hefty Aramco OSP hikes reflect confidence in tight medium sour supply and limited worries about weakened refining margins’ impact on crude demand
> Market is pricing more volumes to draw out of Cushing to PADD-3 reasonably far ahead of June pipeline maintenance
