Med crude-Urals diffs drift sideways in muted trade

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, May 10 (Reuters) - Urals crude differentials were little changed on Wednesday in muted trade, market sources say, while Reuters calculations show FOB prices for the grade remain below the Western price cap of $60 per barrel on weaker Brent prices.
* Oil prices fell more than $1 a barrel on Wednesday, ending a three-day rally as an unexpected jump in U.S. oil inventories sparked demand concerns.
* Kazakhstan boosted oil exports from the Caspian port of Aktau to Azerbaijan's Baku to increase April's flows via the Baku-Tbilisi-Ceyhan (BTC) pipeline by 75% from March to 152,400 tonnes.
* Pakistan is planning to blend newly purchased Russian crude with Arabian light crude in order to create a mixture that will be more easily processed by the nation's oil refineries. PLATTS WINDOW
* No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Wednesday, traders said. NEWS
* Oilfield firm SLB has made several operational and structural changes to keep its Russian business in compliance with Western sanctions on oil equipment and technology transfers.
* Russia's oil pipeline operator Transneft said on Wednesday that a filling point on the Europe-bound Druzhba pipeline in a Russian region bordering Ukraine had been attacked.
* Abu Dhabi National Oil Company (ADNOC) sees no dip in demand from Asian customers as cheap Russian oil flows into the continent. (Reporting by Reuters; Editing by Cynthia Osterman)
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