Med crude-Urals diffs ease, outright prices rise further
MOSCOW, Oct 7 (Reuters) -Urals crude oil differentials eased on Monday as rising freight rates and lower prices in Indian ports weighed, Reuters assessments based on data from trade sources showed, while outright prices for the grade rose further on stronger Brent.
Oil prices rose more than 3% on Monday, with Brent surpassing $80 per barrel for the first time since August, as the increased risk of a region-wide Middle East war jolted investors out of record bearish positions amassed last month.
Oil exports from Russia's Black Sea port of Novorossiisk were revised up by 0.22 million metric tons from a previous forecast to 2.42 million tons for October, two sources familiar with the plan said on Monday.
The revision in Russian oil exports comes after oil companies had rescheduled maintenance on several oil refineries, the sources said.
Rosneft's Tuapse refinery suspended processing from Oct. 1 due to low margins, according to Reuters sources.
PLATTS WINDOW
There were no bids or offers for Urals, Azeri BTC or CPC Blend in the Platts window on Monday.
NEWS
India's fuel consumption in September fell by 1.6% year on year to 17.92 million metric tons, its lowest in two years, oil ministry data showed on Monday, as above-normal monsoon rains continued to weigh on diesel demand.
Reporting by Reuters; Editing by Mark Porter
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