Urals crude oil differentials to dated Brent were stable to dated Brent, while Turkey is set to increase buying of the grade to a one-year record in June, LSEG data showed.

Turkey’s imports of Russia’s Urals crude are set to rise in June to their highest level since May 2024 on healthy refinery margins and seasonal demand for motor fuels, LSEG data showed and two market sources said.

Turkey’s Urals imports will reach almost 1.64 million metric tons in May, which will be the highest since May 2024, when the country imported 1.76 million tons of the grade, according to LSEG data.

Kazakhstan’s daily oil and gas condensate output is set to rise by 6% in June versus May, the Energy Ministry told Reuters and data from the national statistics bureau showed.

PLATTS WINDOW
Trading firm Vitol sold 90,000 tons of CPC Blend loading on July 10-14 to Italy’s Eni at dated Brent minus $2.57 per barrel, below recent estimates, traders said. They added that the cargo was too prompt and that’s why discounted to the volumes loaded later in the month.

No bids or offers were made for Urals or Azeri BTC in the Platts window on Friday.

NEWS

China’s imports of crude oil from Russia fell 5.9% in May from a year earlier to 8.38 million metric tons or 1.97 million barrels per day, Chinese customs data showed on Friday, but also rose on a monthly basis by 3.8%, up from 8.07 million bpd in April.
Source: Reuters