February 19, 2019 / 5:04 PM / a month ago

Med Crude-Urals diffs flip to premium over dated Brent, CPC Blend down again

MOSCOW, Feb 19 (Reuters) - Urals crude differentials in northwest Europe rose to a premium over dated Brent on Tuesday on robust demand for March cargoes, while Caspian CPC Blend inched lower in a deal.

Traders expect Urals provisional loading plan for March 1-10 to emerge on Wednesday.

PLATTS WINDOW

* Shell bid for 100,000 tonnes of Urals for loading March 7-11 from Primorsk or Ust-Luga at dated Brent minus $0.05 a barrel.

* Gunvor bid for a similar cargo for March 3-7 loading at dated Brent plus $0.05 a barrel.

* Trafigura offered 100,000 tonnes of Baltic Urals for Mar. 12-16 at plus $0.10 a barrel.

* There were no bids and offers for Urals in the Mediterranean on Tuesday.

* SOCAR sold to ENI 650,000 barrels of Azeri BTC for March 9-13 at dated Brent plus $2.15 a barrel. That was up by some 10 cents from the latest estimations.

* Shell sold to BP 85,000 tonnes of CPC Blend for March 2-6 loading at minus $2.05 a barrel, down by 5 cents from Tuesday’s assessments.

RELATED NEWS

* Russia’s President Vladimir Putin and Saudi King Salman bin Abdulaziz Al Saud, in a telephone conversation, voiced their support for continued coordination on the global energy markets, the Kremlin said.

* Azerbaijan expects its oil production will be flat and its gas output will rise 20 percent in 2019, a spokesman for the state energy company SOCAR said.

* Oil fell from its 2019 high of almost $67 a barrel as concerns about the progress of U.S.-China trade talks and slowing economic growth countered lower supplies.

* Iran’s exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have increased purchases due to waivers from U.S. sanctions. (Reporting by Gleb Gorodyankin; editing by David Evans)

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