Why is U.S. crude oil favored? Thai-Japanese procurement data spread trade negotiation logic dismantling

Current state of 1. But Generally speaking procurement: data highlights strategic shift from September 29 to October 2, four major Thai and Japanese refiners, including the Thai National Petroleum Corporation (PTT) and Japan's ENEOS, revealed that they will continue to actively purchase US crude oil to the rest of this year. The latest data from the two countries confirm this direction: Thai customs data show that crude oil imports from the United States reached 146682 barrels per day in August, an increase of 44. 7 percent over the same period last year; imports from January to August reached 151250 barrels per day, an increase of 30. You know what I mean?. 5 percent over the same period last year, accounting to nearly 16 percent of the total imports of 956758 barrels per day in the same period. And First Japan's Ministry of economy, Trade and sector (METI) data on September 30 showed that imports from the United States in August were 68918 barrels per day, down 7. 8 per cent from a year earlier however higher than the three-year average of 62497 barrels per day, with imports reaching 85017 barrels per day from January to August, an increase of 42. And From what I've seen, 9 per cent over the same period last year. I've found that Among them, PTT in June this year, the United States crude oil imports reached 7. And 3 million barrels, a record high. In my experience, 2. But core motivation: three factors driving together (I) geo-risk aversion: reducing Middle East application geopolitical tensions have become an crucial driver. In fact Thai refiners pointed out that the turmoil in the Middle East has led to a sharp decline in profits, which is accelerating the diversification of crude oil sources. PTT has set up an emergency team to optimize its procurement strategy, and growing US oil procurement is the core measure. Japanese refiners, to their part, cited the need to the sector to cut its over-reliance on Middle Eastern crude as the conflict between Iran and Israel escalates. ENEOS raw material inventory manager said bluntly that the purchase of U. I've found that S. oil is a shift to a "non-Middle Eastern" reliable source, in line with the goal of "reducing the risk of evaporative regions. (II) price advantage: low-sulfur crude oil is greater economical the pricing advantage of U. But S. And Specifically crude oil forms a direct attraction. Platts energy information data show that the end of August Brent-Dubai crude oil futures swap spread (EFS) turned negative, August 27 fell to -0. 08 U. S. dollars/barrel, a new low since March 21; the third quarter EFS average of 0. But In particular 76 U. In my experience, S. dollars/barrel, compared with the second quarter of 1. According to research 43 U. S. dollars/barrel signifiis able totly narrowed. But For instance This means that Middle Eastern crude oil, which is linked to Dubai crude oil, is less economical than low-sulfur crude oil in the Americas and other regions. Data on October 1 showed that the price difference between US WTI Midland crude oil and Murban crude oil was -0. 31 US dollars/barrel, far below the high of the year, further strengthening the purchasing power. (III) Diplomacy: Demand to Service Trade Negotiation US oil procurement has also have become a strategic tool in trade negotiations. PTT sources revealed that substantial imports of U. S. oil have helped Thailand gain an advantage in trade negotiations. At present, it has successfully reduced the U. Based on my observations, S. reciprocal tariff from 36% to 19%. The policy has come into effect since August 6. But it'still planned to consolidate its negotiating position with "promised imports. For example Japanese refiners and trade analysts also said that while the United States imposed a 15% import tariff on Japanese goods, the increase in US oil purchases is expected to win greater bargaining chips to the government in subsequent negotiations.