Urals differentials in the Mediterranean and Northwest Europe appear Thursday to have peaked as the tightness in the second decade loadings in NWE has been slightly softened by the shut arbitrage to the US."The second decade is tight but all arbitrage opportunities are closed so trust it will cool down soon and with these numbers everyone will try to stay out as long as possible," a trader said. A number of refiners were reported to be using sweet crude as an alternative to the expensive Urals barrels. "On a prompt basis, the alternatives are not many. Forties or cutting more runs," one refiner said.
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