In our latest crude market commentary:
> A narrowing TI/Brent spread has been offset by lower fob waterborne diffs, but room to the upside now for fob diffs as well with demand set to be strong for WTI exports
> Johan Sverdrup fob pricing took a nosedive to reopen opportunities to the East, with its economical status into the US not yet enough to see marginal cargoes picked up for TA movement
> Demand indicators improving, with WAF grades’ differentials in particular on the up, potentially also benefitting from tighter prompt WTI supply
