MOSCOW: Urals crude differentials to dated Brent in northwest Europe lost another 15 cents a barrel on Friday to hit the lowest level since May 31 after a provisional loading plan for Baltic ports and Novorossiisk showed ample supplies.
Urals exports from Novorossiisk in September are seen flat compared to August at 2.14 million tonnes, while Siberian Light loadings will rise to 0.65 million tonnes from 0.49 million tonnes.
Urals loadings in Primorsk will go up to 3.7 million tonnes from 3.3 million tonnes in August, while supplies from Ust-Luga will fall by 0.1 million tonnes to 2.5 million tonnes.
In the Platts window, Glencore offered a 100,000-tonne cargo of Urals for loading from Primorsk or Ust-Luga on Sept. 7-11 at minus $1.35 a barrel to dated Brent, but found no interest, traders said.
Vitol offered a similar cargo for Sept. 6-10 down to minus $1.00 a barrel.
Urals ex-Baltic Sea ports was assessed at minus $1.25 a barrel on Thursday.
There were no bids and offers for CPC Blend, Azeri BTC and Siberian Light in the Platts window on Friday.
Russia's Surgutneftegaz closed a tender to sell 140,000 tonnes of Urals crude for loading from Novorossiisk on Sept. 10-11, but results were not immediately available.
Zarubezhneft issued a tender to buy 80,000 tonnes of Urals and 35,000 tonnes of Kirkuk for delivery to Omisalj late in September - early in October, the company said on its website. The tender closes on Aug. 29 at 1600 Moscow time.
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