Urals oil differentials to dated Brent were stable amid low trading activity on Thursday, while CPC Blend oil discounts continued to widen against dated Brent, traders said.
Urals cargoes loading in January were slow to clear and many tankers were already on water without a clear destination, traders said. This was as demand for the volumes in Asia was not high amid ample availability of alternatives.
CPC Blend oil values were under pressure amid the grade's exports instability and recent attacks on the tankers headed to the CPC terminal, traders said.
ExxonMobil offered 120,000 tons of CPC Blend loading on February 10-14 at minus $1.35 per barrel, nearly $1 per barrel below yesterday's offer, but failed to find a buyer, traders said. No bids or offers were made on Thursday for Urals and Azeri BTC, traders said.
India's Russian oil imports fell to their lowest level in two years in December, as Western sanctions pushed refiners to tap alternatives. This lifted OPEC's share of imports to an 11-month high, trade data showed.
(Reporting by Reuters; editing by Diane Craft)