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Med Crude-Urals differentials jump in NWE on stronger demand
September 18, 2017 / 5:12 PM / a month ago

Med Crude-Urals differentials jump in NWE on stronger demand

Sept 18 (Reuters) - Urals crude differentials in northwest Europe rose on Monday in response to stronger demand for October barrels, traders said.

In the Platts window, Shell bid for 100,000 tonnes of Urals ex-Baltic for Oct. 5-9 up to minus $1.81 to dated Brent, but found no sellers.

Urals differentials in the Baltic were assessed at dated Brent minus $2.10-$2.20 a barrel on Friday BFO-URL-NWE.

In the Mediterranean, there were no bids and offers for Urals, CPC Blend and Azeri BTC on Monday.

Russia’s Surgut sold to Total in a spot tender 100,000 tonnes of Urals crude ex-Primorsk for Oct. 2-3 loading at dated Brent minus some $1.65 a barrel, adding freight to the original FOB-basis price. The details could not be verified.

Oil exports and transit via Russia’s Transneft pipelines are expected to be 60.9 million tonnes in the fourth quarter against 61.5 million tonnes in July - September, industry sources familiar with quarterly export schedule said on Monday.

Urals oil supplies from the Baltic Sea ports are forecast at 19.6 million tonnes in October-December, slightly down from 20.2 million tonnes in July-September, the sources said.

Urals and Siberian Light exports from the Black Sea port of Novorossiisk will fall to 8.5 million tonnes from 8.62 million tonnes in the third quarter. (Reporting by Gleb Gorodyankin. Editing by Jane Merriman) ))

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