Page 34 - Dated Brent News Today

Transneft, the Russian oil pipeline operator, has informed local oil companies that it would be capping the intake of yet-to-be-sold crude because of full storage as buyers in the West shun Russian oil

Middle East oil producers continue to hike their prices despite the fact that heavily-discounted Russian crude is making its way to the same, heavily contested Asian market

Buying interest among Asian refiners for some medium sour Middle East crude grades loading in May has weakened as cheaper Russian Urals crude cargoes increasingly begin to find homes in the region, sources told S&P Global Commodity Insights. Growing threats of international sanctions on Russian grades has seen European buyers shun medium sour Urals, redirecting ...

Russia’s invasion of Ukraine on 24 February has fundamentally changed the geopolitical landscape—with economic consequences. Four weeks into the war, Russia continues its bombardment of cities, encountering determined Ukrainian resistance. While the outcome is highly uncertain, a lengthy political impasse appears likely. Economic damage to both countries will be substantial. Through sanctions, trade policies, and ...

Kazakhstan’s CPC crude oil exports, loaded from Russian territory and totaling some 1.5 million b/d, remain “very important” to world markets amid bans on Russian crude, the Central Asian country’s top investor, Chevron, said March 21. In emailed comments, the California-based major said all its shipments of CPC crude from the Russian port of Novorossiisk ...

Several Chinese state-owned refiners have returned to the Russian spot market to buy May-loading Urals crude barrels, attracted by their record discount to Dated Brent, refining sources told S&P Global Commodity Insights March 22. “We will have a cargo of Urals for delivery in June, the price is quite low,” a source with a state-owned ...

Russian Urals crude differentials fell 93 cents/b day on day to a new record wide discount to Dated Brent amid growing international condemnation of Asian crude purchases and renewed calls for further Russian oil sanctions. Russian Urals cargoes basis CIF Rotterdam were assessed at a new record low of Dated Brent minus $30.99/b and for ...

Russia is finding ways to bypass sanctions on its oil supplies and customers are “happy to buy” its discounted crude, the country’s top energy official said March 21. “Now there are new challenges linked to supply chain disruptions, the insurance of ships that transport our products, and with issues of financing and payment … these ...

The combination of slowing domestic demand amid coronavirus lockdowns and falling international crude prices was easing pressure on Chinese refiners to keep oil product barrels at home to ensure supply, raising the possibility of exports in April, analysts said on March 17. The country’s top economic planning body National Development and Reform Commission in the ...

South Korea’s crude oil imports in February rose 3.3% from a year earlier, latest customs data showed, as local refiners raised their crude throughput and overall run rates to capture healthy Asian middle distillate cracks, while the companies will continue to favor competitive US crude to minimize feedstock cost burden, market and trading participants in ...