July 16, 2025

EFS Squeezes west-to-east crude arb as Trump tariffs add new uncertainty

A widening of the Brent-Dubai Exchange of Futures for Swaps (EFS) has choked off the once-lucrative arbitrage for light sweet crude flowing from West to East, exacerbating the supply picture in the Atlantic Basin.

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EFS Squeezes west-to-east crude arb as Trump tariffs add new uncertaintyCargo ship docked at industrial port with red-covered containers and red ore piles, city skyline in the background.

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