Saturday, 21 March 2015 01:15
MOSCOW: Russian Urals crude was steady on Friday after slipping to its weakest since December earlier in the week, getting support from a relatively short loading programme for the first part of April.
A preliminary export plan for Urals for the first days of April showed rather scarce volumes from the Baltic port of Primorsk and the Black Sea port of Novorossiisk As a result, Vitol was seeking to sell cargoes at higher premiums offering a cross month tanker (March 31 April 4) in the Baltic at dated Brent minus $ 1.90, some 50 cents stronger than previous price estimates, traders said. The cargo didn’t generate interest from buyers.
Vitol was also offering a cross-month CPC cargo at dated Brent plus 15 cents, some 65 cents stronger than previous estimates, but failed to find buyers and withdrew the offer. Russia’s Surgut offered two cargoes of Urals at a spot tender from Ust-Luga loading on April 7-8 and 11-12. The tender will close on March 23.
Copyright Reuters, 2015
