Med crude-Urals diffs unmoved, sanctions weigh on demand

Mangalore Refinery and Petrochemicals

30/10/2025 19:48

MOSCOW, Oct 30 (Reuters) - Urals crude differentials to dated Brent were unmoved on Thursday in a quiet trade, but Western sanctions weighed on demand for the Russian grade slowing down sales.

Buyers of Russian oil in China, India and Turkey studied fresh restrictions imposed by the U.S., the European Union and the UK, traders said. Some of them already checked the market for alternative oil grades, they added.

State-run refiner Indian Oil IOC.NS is seeking more oil from the Americas while Mangalore Refinery and Petrochemicals (MRPL) MRPL.NS has bought Abu Dhabi crude to replace Russian oil, according to traders and a document reviewed by Reuters on Thursday.

PLATTS WINDOW

No bids or offers were reported in the Platts window for Urals, Azeri BTC or CPC Blend crude on Thursday.

NEWS

Lukoil LKOH.MM said on Thursday it had accepted an offer from global commodity trader Gunvor to buy its foreign assets, which Russia's second-largest oil company is seeking to sell after Washington imposed sanctions on it last week.

 (Reporting by Reuters)