Med crude-Urals differentials unchanged, trade moves to April volumes

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, March 16 (Reuters) - Russian Urals crude oil differentials were stable on Thursday in absence of public deals, while trading moved to April volumes.
* Most of March volumes of Urals oil were placed with end users, while Asian refiners used to advance buying were negotiating April-loading cargoes purchases, traders said.
* Freight rates for April cargoes of Urals oil softened slightly supporting demand for the grade.
* On Azeri BTC and CPC Blend markets trade also moved to April volumes as March cargoes were placed, traders said. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Thursday, traders said. NEWS


* OPEC+ considers this week's slide in oil prices to a more than one-year low to be driven by financial fears, not on any imbalance between demand and supply, and expects the market to stabilise, four delegates from the oil producer group told Reuters.
* Russia is not reaping the benefits of higher costs of some recent cargoes of crude oil bought by refiners in India priced above the price cap set by countries in the West and Australia, a U.S. official said on Thursday. (Reporting by Reuters; Editing by Shailesh Kuber)

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