Caspian CPC Blend crude discounts narrow; Azeri BTC stable

Caspian CPC Blend crude discounts to dated Brent narrowed on Monday, while Azeri BTC was stable as traders assess the fallout of a recent contamination issue.

Two Aframax cargoes of CPC Blend recently traded around dated Brent minus $1.15/1.00 CIF Augusta, according to a trader with knowledge of the deals on Monday. At those levels, the arbitrage to markets east of Suez could be closed, the source added.

Traders are awaiting a September CPC Blend loading schedule in the coming days. No fresh price discussions on Azeri BTC, the source added.

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

Major oil producer Iraq began gradually restoring power on Monday, the state news agency reported citing the electricity ministry, after a power outage hit central and southern regions of the country.

US President Donald Trump said on Monday that both Ukraine and Russia would have to cede land to each other to end the war and that his talks with Russian President Vladimir Putin would be aimed at taking the temperature on a possible deal.

Azerbaijan's president on Sunday condemned Russian air strikes on Azerbaijani oil and gas facilities in Ukraine but said energy cooperation between the two countries would continue.

Finland's national prosecutor's office said on Monday it had brought charges against the captain and first and second officers of the Eagle S oil tanker over the cutting of undersea cables in the Gulf of Finland in December.

(Reporting by Robert Harvey Editing by Tomasz Janowski)