MOSCOW: Urals differentials in northwest Europe rose to higher premiums against dated Brent on Thursday as demand for Russian grade was supported by tight supply. No loading dates for December have been issued yet.
* In the Platts window, Gunvor bid for a Urals cargo loading from Baltic ports on Nov. 27-Dec. 1 to dated Brent plus $0.15 a barrel, where Shell decided to sell the cargo, traders said.
* The deal level was 5 cents a barrel higher than the deal made in the window on Wednesday.
* Urals differentials in the Baltic are trading at a premium to dated Brent for the first time since 2013.
* Low availability of sour crude oil grades in the region and good diesel margins supported Urals in the Baltic, along with expectations of low exports in December, traders said.
* The Urals loading plan for the first days of December hasn't been released yet, which kept companies from active trading. Market participants expect it to be out on Friday.
* Russian grade cargoes loading from the Black Sea's Novorossiisk were still estimated at a discount of 30-40 cents a barrel to dated Brent as demand for Urals in the Mediterranean was weaker.
* There were no bids or offers for Urals loading from Novorossiisk, CPC Blend or Azeri BTC crude oil, traders said.
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