Urals crude differentials were steady on Friday, while Indian state-run refiner Bharat Petroleum Corp Ltd (BPCL) is in talks with Russia’s Rosneft to buy about 6 million metric tons (43.8 million barrels) of discounted Russian crude.

Under the pending deal, Rosneft would deliver the equivalent of 6 to 7 cargoes of about 700,000 to 720,000 barrels each per month through March 2024 to BPCL at a price based on the Dubai benchmark, according to three sources with direct knowledge of the matter.

PLATTS WINDOW

No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Friday, traders said.

NEWS

Oil prices fell on Friday, headed for a weekly decline as traders worried interest rate hikes could sap demand despite signs of tighter supplies including lower U.S. crude stocks.
Source: Reuters (Reporting by Reuters;Editing by Elaine Hardcastle)