Surgutneftegaz sells Urals cargo at premium to BFOE in Baltic
Russia’s Surgutneftegaz awarded a spot tender to sell a cargo of Urals for loading from Primorsk port on Dec. 27-28 at a premium of $0.20 a barrel to dated Brent, which was higher than recent estimates, traders said.
Glencore won the tender, and market participants thought the trading firm bought the cargo on behalf of ExxonMobil.
Most recently Urals cargoes loading from Baltic ports were estimated at parity to dated Brent, Reuters monitoring showed. BFO-URL-NWE
The cargo sold by Surgutneftegaz in the tender was added to the loading plan on Thursday.
There were only a couple of Urals cargoes for loading in December available in the market, traders said. The Urals crude oil loading plan for the first days of January is due to be released early next week.
Source: Reuters (Reporting by Olga Yagova; Editing by Kirsten Donovan)