The trading arm of French supermajor TotalEnergies is gobbling up U.S. crude, pushing WTI crude for delivery at Cushing to its highest premium since November, Bloomberg has reported, citing unnamed sources. Dubbed Atlantic Trading and Marketing Inc., the company appears to be taking advantage of high refining margins created by tight supply and strong demand for fuel. The report suggests, however, that more U.S. oil will be staying at home at these price levels, as it becomes too expensive for overseas buyers from Asia and Europe. This won’t…
