A Sovcomflot tanker Sovcomflot
Tankers

Urals oil diffs steady as September export loadings are revised higher

Reuters

Urals crude differentials to dated Brent were stable on Thursday, while oil loadings from Russia's western ports were revised following refinery and export infrastructure damages from drone attacks, sources said.

Russia has increased its planned oil loadings from the Baltic port of Ust-Luga and the Black Sea port of Novorossiysk for September, following disruptions at its main western outlet, Primorsk, two sources familiar with the schedule told Reuters.

Russian gas producer Novatek supplied about 70,000 tonnes of gas condensate to the port of Novorossiysk in September amid the shutdown of its Ust-Luga gas condensate complex, two sources familiar with the matter told Reuters.

Meanwhile, as Ukrainian drone attacks continue, traders say that exports might be revised again until the month's end.

Ukraine said on Thursday that its drones had struck a major oil processing and petrochemical complex and an oil refinery in Russia, part of an intensifying campaign to disrupt Moscow's oil and gas sector.

No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Thursday.

Freight rates for very large crude carriers soared to their highest in more than two years, according to industry sources and LSEG data, as tanker supply tightens with a rise in Middle East exports and more arbitrage supplies to Asia.

(Reporting by Reuters; Editing by Alan Barona)