West African Crude Traders Face Challenges Amid Rising Freight Costs

West African crude traders are encountering significant challenges as they are compelled to offer substantial discounts due to escalating freight costs and an unfavorable price spread. Bloomberg posted on X, highlighting that these factors are diminishing the interest of Asian buyers in the region's oil shipments. The increased expenses in transportation and the less attractive pricing are impacting the demand for West African crude, leading traders to adjust their strategies to remain competitive in the market.