U.S. to export first condensate to Asia

|By:, SA News Editor

Last month's decision by the Commerce Department to allow exports of condensate (minimally refined ultra-light oil), has paved the path for the U.S. energy industry to become a main supplier in the market.

South Korea's GS Caltex and Japan's Cosmo Oil (OTCPK:CMOOY) were the first to purchase the new exports.

As Europe and Asia seek alternative supplies due to the disruption fears of geopolitical crises, stable U.S. condensate demand is set to increase.

ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DWTI, DNO, SZO, OLO, OLEM, TWTI