MOSCOW: Urals crude differentials to dated Brent in northwest Europe and the Mediterranean were seen stronger on Tuesday as a short January lifting schedule provided support to the grade, trade sources said.
In the Platts window, BP bought from Vitol 100,000 tonnes of Urals for loading in the Baltic on Jan. 24-28 at dated Brent minus $0.55 a barrel, up by 10 cents from Monday assessments.
In the Mediterranean, Vitol sold to Litasco a 140,000-tonne cargo of Urals ex-Novorossiisk for Jan. 24-28 loading at minus $0.70 a barrel to dated Brent, unchanged from Monday estimates, while Urals Aframax's differentials were seen rising to a premium over dated Brent due to limited availability.
There were no bids and offers for Azeri BTC and CPC Blend in the Platts window on Tuesday.
Azerbaijan is set to load 20.35 million barrels of its Azeri BTC crude oil blend in February compared with 21.64 million barrels in January, according to a loading schedule seen by Reuters.
Oil exports via the Caspian Pipeline Consortium hit a record high of 55.1 million tonnes in 2017, the group said in a statement on Tuesday.
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