MOSCOW, April 5 (Reuters) - Urals crude oil
differentials to dated Brent firmed further amid intensified
competition between main buyers of the grade - India and China,
traders said.
* Urals oil prices in Indian ports had traded at a discount
of
$14-$17 per barrel on DES (delivered ex-ship) basis, but the
term deal had this week driven deals to a discount of $12-$14 to
dated Brent or ICE Brent, Reuters sources said on Wednesday.
* For May-loading cargoes in Chinese ports, Urals discounts
narrowed to $8-$9 against ICE Brent on a DES basis, from about
$10-$11 per barrel for April-loading cargoes, two sources in
Chinese oil market said.
* Narrowed differentials and higher Brent price put Urals
estimations above the "price cap" level of $60 per barrel on FOB
Russian ports basis, Reuters calculations showed.
PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC
Blend in
the Platts window on Wednesday, traders said.
NEWS
* Record high imports of crude oil from Russia in fiscal
2022-23
helped India's refiners boost exports of diesel and jet fuel to
Europe as the continent shunned Russian products, preliminary
ship-tracking data from Kpler and Vortexa showed.
(Reporting by Reuters)
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