Med crude-Urals diffs unchanged, Black Sea exports hit by storms

Equus Mining

07/12/2021 18:10

MOSCOW, Dec 7 (Reuters) - Urals crude oil differentials to
dated Brent were unchanged again on Tuesday as traders wait for
more action in the Caspian oil market after loading plans for
Azeri BTC and CPC Blend in January emerge this week.
    * Urals oil exports from Black Sea port Novorossiisk were
affected
badly by bad weather in the region, traders said.

    * Continuing storms that cause loading disruptions made
loadings
from the Black Sea costly for tanker charterers and as a result
made the route less attractive for traders, market participants
said.

    * Loading delays in Novorossiisk were at 1 to 5 days as of
Dec. 7,
two traders familiar with the port plans said.
    * Urals oil refining margins on Mediterranean refineries
were at
$1.65 per barrel on Tuesday, up from $0.90 per barrel for the
last 15 days on average, Refinitiv Eikon data showed.
 REF/MARGIN1 


    PLATTS WINDOW
    * There were no bids or offers for Urals, CPC Blend or Azeri
BTC
in the Platts window on Tuesday, traders said.
NEWS

    * A coming transition from oil and gas to renewables will be
"messy" for many years and lead to sharp energy price volatility
as demand and supply clash, top energy executives said on
Tuesday.  urn:newsml:reuters.com:*:nL1N2SS1L1
    * Recent shifts in the relative price of different crude
grades
have dealt oil exporters from the vast Atlantic Ocean basin the
best chance in months to sell to top consuming region Asia, but
sales have been sluggish as COVID-19 fears cool demand.
 urn:newsml:reuters.com:*:nL8N2SR37A


 (Reporting by Olga Yagova and Gleb Gorodyankin
Editing by Mark Potter)
 ((gleb.gorodyankin@thomsonreuters.com;))