Med crude-Urals diffs stable, Azeri BTC premiums down in a deal
Urals crude differentials to dated Brent were stable on Friday, while premiums for Azeri BTC were down after a deal.
Azeri BTC crude oil cargoes loading in February were under pressure due to ample availability of alternatives in Europe, traders said.
SOCAR sold to Glencore 650,000 barrels of Azeri BTC loading on February 19-23 at dated Brent plus $3.95 per barrel, well below the recent estimates. The cargo was prompt, which added pressure on its value, traders added.
There were no bids or offers for CPC Blend or Urals oil in the Platts window on Friday.
Kazakhstan sent 100,000 metric tons of crude oil to Germany in January via the Russian Druzhba pipeline, Kazakh pipeline operator Kaztransoil said on Friday.
Ukrainian drones attacked two oil refineries in southern Russia’s Krasnodar region on Friday, causing a large fire at the Ilsky refinery during operations conducted by the SBU security service, a Ukrainian source told Reuters.
Source: Reuters (Reporting by Reuters; Editing by Cynthia Osterman)