November 16, 2018 / 5:39 PM / a month ago

Med crude-Urals diffs fall in NWE, jump to 4-year highs in Mediterranean

MOSCOW, Nov 16 (Reuters) - Urals crude differentials in northwest Europe fell back to a discount against BFOE on Friday, while in the Mediterranean Russian grade was at a premium - at the highest level since 2014, Refinitiv Eikon terminal data showed.

* In the Platts window, Trafigura sold to Total 100,000 tonnes of Urals loading from Baltic ports on Dec. 4-8 at dated Brent minus $0.25 a barrel, down by 40 cents from Thursday estimates.

* Urals differentials weakened in the Baltic after the price of Brent strengthened over the last three days, traders said.

* In the Mediterranean BP bid for 80,000 tonnes of Urals for Nov. 26-30 loading up to dated Brent plus $0.15 a barrel, but found no seller.

* Traders said it was very hard to find a Urals cargo of 80,000 tonnes for loading in November from Novorossiisk in the market as most of them were placed.

* Urals crude loadings from Primorsk and Ust-Luga on Dec. 1-6 were set at 1.0 million tonnes, unchanged from the same period this month, a provisional loading plan for the first days of December obtained by Reuters showed on Friday.

* Urals and Siberian Light loadings from Novorossiisk on Dec. 1-5 will rise to 0.38 million tonnes from 0.15 million tonnes this month, according to the document.

* There were no bids or offers for Azeri BTC and CPC Blend in the afternoon trading session. TENDER

* Russia’s Surgutneftegaz called a spot tender to sell 100,000 tonnes of Urals crude oil for loading from the port of Ust-Luga on Dec. 5-6, traders said on Friday.

* The tender closes on Nov. 19 at 1400 Moscow time (1100 GMT).

NEWS

* Iraq on Friday resumed exports of Kirkuk oil, halted a year ago due to a standoff between the central government and Kurdistan’s semi-autonomous region, after a new government in Baghdad agreed a tentative deal with Erbil.

* Three major centres for oil demand in the Mediterranean are expanding refinery capacity, squeezing traders and exporters including India and the Middle East out of traditionally busy markets for petroleum products such as diesel and gasoline. (Reporting by Gleb Gorodyankin and Olga Yagova Editing by Susan Fenton)

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