MOSCOW: Urals crude differentials to dated Brent in northwest Europe fell for a second day on Thursday pressured by sellers trying to offload April barrels ahead of a long Easter holiday weekend in Europe. The first loading dates for May may emerge as early as Friday.
In the Platts window, Litasco sold to Total 100,000 tonnes of Urals from Primorsk or Ust-Luga for April 24-28 at dated Brent minus $2.40 a barrel. That was down by 10 cents a barrel from deals on Wednesday.
Shell bid for a similar cargo for April 29-May 3 loading at a discount of $2.30 a barrel to dated Brent.
Itochu bid for 600,000 barrels of Azeri Light for April 27 -May 1 loading up to a premium of $1.35 a barrel. The grade was assessed at premium of some $1.15-$1.25 in the previous trading day.
There were no other bids and offers for Urals in Mediterranean and CPC Blend in the Platts window.
Iraq plans to export about 3.22 million bpd of crude from its southern port of Basra in May, trade sources said on Thursday citing a monthly loading program.
The volume is the highest allocation since February, Reuters data shows
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