Med Crude-Baltic Urals And Azeri BTC Diffs Fall On Abundant Supply


MOSCOW, Feb 13 (Reuters) - Urals crude and CPC Blend differentials to dated Brent fell on Tuesday, as the market mood in the Atlantic basin was generally weak, traders said.

In the Platts window, Glencore sold to Statoil 100,000 tonnes of Urals for loading from Russia's Baltic ports on Feb. 23 to 27 at minus $2.00 a barrel to dated Brent, traders said.

That was down by some 40 cents a barrel from Monday assessments for the grade in northwest Europe.

SOCAR offered a similar cargo for Feb 26 to March 2 loading down to dated Brent minus $1.80 without finding a buyer.

Trafigura offered 100,000 tonnes of Urals ex-Primorsk or Ust-Luga for March 4 to 8 loading at minus $1.45 to dated Brent, but withdrew.

Urals loadings from Novorossiisk resumed after a storm, pipeline monopoly Transneft said on Tuesday.

In Azeri BTC, SOCAR offered 650,000 barrels of the grade for Feb 27 to March 3 loading at dated Brent plus $1.80 a barrel, unchanged from Monday. No buyers emerged.

Glencore offered 93,500 tonnes of CPC Blend for Feb 23 to 27 down to minus $0.10 a barrel to dated Brent, down by some 45 cents from the latest assessments, but nobody was interested.

CPC Blend exports from the Black Sea are set at 5.37 million tonnes in March, up from 4.39 million tonnes in a revised plan for February, the preliminary schedule seen by Reuters showed on Tuesday.

Russia remains committed to a global oil production deal cut between OPEC and some non-OPEC nations, Kremlin spokesman Dmitry Peskov told reporters on Tuesday.

(Reporting by Gleb Gorodyankin; Editing by David Holmes)


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.