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Med Crude-Urals sticks near two-year highs on sour crude shortage, strong margins
July 6, 2017 / 4:22 PM / 5 months ago

Med Crude-Urals sticks near two-year highs on sour crude shortage, strong margins

LONDON, July 6 (Reuters) - Urals crude differentials were unchanged on Thursday after rising to a two year high earlier in the week due to strong refinery margins, clearing Urals cargoes and a general shortage of sour barrels following OPEC production cuts. * Traders said Vitol offered to sell a July 25-29 Urals cargo in the Baltic at dated Brent minus 65 cents a barrel, but found no buyers in the Platts window as the asking price was seen as too strong. * Eni bid for a Urals Aframax cargo in the Mediterranean for July 20-24 delivery at dated Brent minus 95 cents barrel but found no sellers as the offer price was seen as low. * In the Urals swaps market, July prices in the Baltic and the Mediterranean were seen near the levels of the physical market at around dated Brent minus 75 cents. August Baltic swaps were showing the Urals weakening to around dated Brent minus 95 cents. * In other grades, Kazakh CPC Blend was assessed 30 cents stronger at around dated Brent minus 90 cents a barrel and Algeria’s Saharan Blend was also seen strengthening to dated Brent minus 40-50 cents. (Reporting by Dmitry Zhdannikov) ))

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