Med crude-Urals diffs unchanged in quiet trade
Urals crude differentials to dated Brent were unchanged on Friday in quiet trade, while market participants evaluated new U.S. sanctions on Hennesea Shipping Co Ltd and 18 tankers involved in Russian oil shipments.
The new sanctions haven’t caused freight rates for Russian oil to rise yet, two traders said.
There were no bids or offers for CPC Blend, Azeri BTC or Urals oil in the Platts window on Friday.
The Brent crude market structure and some physical markets in Europe and Africa are reflecting tighter supply resulting partly from concern about shipping delays due to vessels avoiding the Red Sea, according to traders, LSEG data and analysts.
Source: Reuters (Reporting by Reuters; Editing by Kirsten Donovan)