U.S. Gulf Coast crude oil exports have been slowing in recent weeks, due to arbitrage constraints because of surging freight rates, S&P Global Platts reports , citing market participants’ expectations of 1.7 million bpd-1.8 million bpd of exports for November. Freight rates started to increase early in October for all ship classes, with rates trending higher due to routes delayed by weather, more lightering activities, and increased ship movement between Mexico’s east coast and the U.S. Gulf Coast. Arbitrage looks closed for U.S. Gulf Coast to Asia, according to some traders, despite healthy demand for both sweet and sour crudes and despite the willingness of Asian buyers to pay more for crude oil. The Chinese market is hot, but due to the reluctance of Chinese refiners to import U.S. crude due to the tariffs, demand in China is for South American or West African crudes, an arbitrage crude seller […]