MOSCOW, March 28 (Reuters) - Urals crude oil differentials to dated
Brent firmed on Tuesday as prices for April-loading cargoes rose on strong
demand from buyers in Asia, traders said.
* April Urals oil cargoes were estimated at a discount of $14-17 per barrel
to
dated Brent in Indian ports on a DES (delivered ex-ship) basis compared to a
discount of $18-20 for March volumes, the sources said.
* The cost of April Urals shipments on FOB port Primorsk basis is currently
about
$50 per barrel, Reuters calculations showed.
* Deputy Prime Minister Alexander Novak said Russian oil sales to India
jumped
22-fold last year.
* Russian oil and gas production is expected to decline in 2023, as Moscow
comes
under pressure from Western restrictions and a lack of European buyers, the
state's Energy Minister Nikolai Shulginov said on Tuesday.
PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the
Platts
window on Tuesday, traders said.
NEWS
* Industrial action over the past three weeks has seen every French refinery
debilitated to some extent, hindering fuel deliveries throughout the country and
depressing European crude prices as market players look to sell.
(Reporting by Reuters; Editing by Richard Chang)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.