Steeper crude backwardation puts pressure on African crude oil

<p>Against a backdrop of growing Coronavirus infections and OPEC+ discord, oil prices keep rising. How can long-haul crude cargoes stay competitive as backwardation in the forward curve widens and puts pressure on Asia-bound oil from West Africa and Europe?</p> <p>In this episode of the Oil Markets Podcast, S&P Global Platts reporters Emma Kettley and Nick Baldwin discuss with Joel Hanley why a stronger backwardation is boosting certain crude grades while hitting others.</p>