MOSCOW: Urals differentials in the Mediterranean rose on Tuesday on healthy demand for cargoes loading in late July and limited availability of Aframaxes ex-Novorossiisk, traders said.
The final loading plan for July provides for just three 80,000-tonne cargoes of Urals from Russia's Black Sea port between July 20 and 31, while one of them is likely to go to Rompetrol refinery in Romania.
In the Platts window, BP bid for 80,000 tonnes of Urals for July 24-28 up to minus $0.75 a barrel, while ENI bid for a similar cargo for July 20-24 loading up to minus $0.85 a barrel to dated Brent, but there was no interest.
There were no bids or offers for Urals in the Baltic and CPC Blend in the Platts window on Tuesday.
In lighter grades, SOCAR offered 650,000 barrels of Azeri BTC ex-Ceyhan for July 14-18 loading at dated Brent plus $1.00 a barrel, but there was no interest.
The Caspian Pipeline Consortium (CPC) has revised its CPC Blend crude oil loading plan for July to 4.5 million tonnes from 4.8 million tonnes, an updated version of the loading schedule showed on Tuesday.
Indian companies have stepped up purchases of high-sulphur crude oil from the Middle East and Russia in the spot market to feed demand from expanded refining capacity, trade sources said.
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