Med crude-Urals diffs stable, shipments to STS fell in March

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, April 3 (Reuters) - Urals crude oil differentials to dated Brent were stable on Monday, while supplies of the grade to ship-to-ship (STS) facilities in Europe fell sharply last month, traders said and data showed.
* Russian Urals crude oil supplies to STS facilities off European coasts fell in March in the face of rising concern from European authorities and as winter ice receded from Baltic ports, traders said and Refinitiv Eikon data showed.
* Urals oil supplies to Greece's Kalamata fell to only 0.3 million tonnes in March from about 1 million tonnes a month on average in January and February, Refinitiv data showed.
* Urals supplies to Spain's Ceuta enclave on the north coast of Africa amounted to a single 100,000-tonne cargo in March, the data shows, compared with a monthly average of 0.5 million tonnes for January-February.
* Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp agreed to use the Asia-focused Dubai oil price benchmark in their latest deal to deliver Russian oil to India, three sources familiar with the deal said. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Monday, traders said. NEWS
* Surprise new cuts to the OPEC+ group's output targets could push oil prices towards $100 a barrel, setting the scene for another clash with the West which is grappling with higher interest rates, analysts and traders said on Monday. (Reporting by Reuters; editing by Jonathan Oatis)
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