MOSCOW: Urals price differentials in the Baltic fell on Thursday as trading activity drifted to mid-end September with a higher availability of Russian barrels to the market, traders said.
Exports from Primorsk and Ust-Luga on Sept. 16-30 will rise to 3.6 million tonnes, up by 2.9 million tonnes between Sept. 1 and 15, when supply is smaller due to maintenance on the pipeline linked to Primorsk, according to the Urals lifting schedule for next month.
"Despite the maintenance, Baltic exports still look ample and with nearly no chance for arbitrage to Mediterranean given a long loading plan from Novorossiisk, Urals in northwest Europe looks to get even cheaper," - one trader said.
The final version of the Russian Urals crude loading plan for September was not changed compared to the preliminary one, a document obtained by Reuters showed.
In the Platts window, Vitol was showing a 100,000-tonne Urals cargo for loading in the Baltic on Sept. 10-14 at dated Brent minus $2.30 a barrel.
Total was offering a cargo of the same size on Sept. 9-13 at a discount of $2.20 a barrel.
In the Mediterranean, Vitol was offering 80,000 tonnes of Urals on Sept. 14-18 at a discount of $1.60 to dated Brent, without finding a seller.
There was no trading activity in Azeri light, Siberian light and CPC Blend in the Platts window, Reuters sources said.
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