EQE equus mining limited

News: EQE Med crude-Urals diffs stable again in muted trade

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    MOSCOW, Dec 9 (Reuters) - Urals crude oil differentials to dated Brent were stable again on Thursday in muted trade, while the grade's refining margins looked firmer.

    • Urals oil cargoes loading in December were mostly placed with end buyers, while refiners started to wait for January loading dates, which may be released early next week, traders said.
    • Complex oil plants refining Urals in the Mediterranean stood to make a profit of $1.87 a barrel over the last five days, compared to a profit of $0.90 over the last 15 days, a refinery model showed. REF/MARGIN1

    PLATTS WINDOW

    • There were no bids or offers for Urals, CPC Blend or Azeri BTC in the Platts window on Thursday, traders said. NEWS
    • Oil prices fell on Thursday after measures by some governments to slow the spread of the Omicron coronavirus variant and a ratings downgrade for two Chinese property developers that stoked fears over the economic health of the world's biggest oil importer.
    • The gamble taken by OPEC and its allies, under pressure from top oil consumer the United States, to raise oil output in January despite its own forecasts of oversupply, appears to be paying off as prices stabilise.
 
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