Med crude-Urals differentials unchanged, Turkey's STAR ramps up Russian oil buying

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, March 1 (Reuters) - Urals crude differentials were unchanged on Wednesday, while Turkey's STAR refinery increased buying of the Russian grade in February.
* Supplies of Russian flagship Urals crude oil to Turkey reached a four-month high in February after STAR refinery, owned by Azerbaijan's oil firm SOCAR, resumed purchases of the blend, data showed and four industry sources said on Wednesday.
* Turkey remains a rare outlet for the Russian crude in Mediterranean after a European Union embargo cut off most options for sellers of Urals.


* Traders expect that the rise in Urals oil imports by Turkey may support the grade's price in March.
* Russia's second-largest oil producer Lukoil has set up ship-to-ship (STS) loadings of Urals oil near the western port of Kaliningrad, Refinitiv Eikon data showed and trading sources told Reuters on Wednesday. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Wednesday, traders said. NEWS
* Commodities pricing agency S&P Global Platts will be excluding Russian-origin material from its assessments of fuel oil cargoes and bunker fuel in Asia and the Middle East from March 1, the company said in a note to subscribers on Wednesday.


* U.S. crude oil inventories rose for the 10th week in a row, but record U.S. exports of crude oil kept the build smaller than in recent weeks, data from the U.S. Energy Information Administration showed on Wednesday. (Reporting by Reuters. Editing by Jane Merriman)

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