Med crude-Urals diffs steady, April cargoes trade above the price cap

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, April 18 (Reuters) - Urals crude oil differentials to dated Brent were steady on Tuesday, while Reuters calculations showed that April-loading cargoes traded above the price cap.
* India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel, according to traders and Reuters calculations.
* Russian oil giant Rosneft is demanding compensation from Germany's economy ministry for losses related to seizure of its Schwedt refinery, Russian news agencies reported on Tuesday, citing company lawyers. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Tuesday, traders said. NEWS
* The clear winner in the race to replace Russian oil at Europe's refineries is Norway's Johan Sverdrup crude, according to Refinitiv Eikon data and traders.
* Chinese oil refinery throughput surged to a record in March, data showed on Tuesday, as refiners stepped up runs to capture strong export demand and build up inventories ahead of planned maintenance. (Reporting by Reuters)
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.