Med crude-Urals oil diffs stable, cargoes head to China via NSR
MOSCOW, Aug 26 (Reuters) -Urals crude oil differentials to dated Brent were stable on Monday, while more cargoes of the grade were on their way to China via the Northern Sea Route (NSR), LSEG data showed.
So far this year, six oil tankers carrying some 600,000 metric tons of Russian crude oil, mostly Urals, have chosen NSR for their voyages to Chinese ports. The NSR is normally open for navigation between July and October, when the Arctic ice becomes thinner.
While traders expect higher crude oil shipments via NSR this year, the cost of navigating the route remains high and is more expensive than the route via Suez, traders said.
PLATTS WINDOW
There were no bids or offers for Urals, Azeri BTC or CPC Blend in the Platts window on Monday.
NEWS
Seven people were hospitalized, with one in serious condition, after a fire at Russia's Omsk oil refinery, the local governor said on Monday. However, it was operating as normal and production plans would not be affected, plant officials said.
Oilfields in eastern Libya that account for almost all of the country's production will be closed and production and exports halted, the eastern-based administration said on Monday, after a flare-up in tensions over the leadership of the central bank.
Reporting by Reuters; Editing by Mark Porter
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