Med crude-Urals diffs stable, oil drops to 2024 low
MOSCOW, Sept 4 (Reuters) -Urals crude oil differentials to dated Brent remained stable on Wednesday, while outright prices for the grade eased on weaker Brent.
Brent futures LCOc1 fell on Wednesday to their lowest levels in 2024 because of pessimism about demand in the coming months as crude producers offered mixed signals about supply increases.
The 600,000-barrel oil tanker Front Jaguar was loading at Libya's Brega port on Wednesday, engineers told Reuters and Kpler data showed, despite a blockade that has halted other exports.
PLATTS WINDOW
BP offered 132,000 tons of CPC Blend loading on Sept. 25-29 at dated Brent minus $0.90 per barrel but nobody was interested, traders said.
There were no bids or offers for Urals or Azeri BTC in the Platts window on Wednesday.
NEWS
Russia's federal antimonopoly service sees no grounds for reinstating a ban on diesel fuel exports, deputy head Vitaly Korolev said on Wednesday.
Reporting by Reuters
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.