Urals in Northwest Europe set a new record high differential to forward Dated Brent Tuesday as tightness persisted on continued Eastern interest and localized demand. Urals on a CIF Rotterdam basis was assessed at forward Dated Brent minus 7.5 cents/barrel a rise of 2.5 cents/b over the previous record differential seen Monday. Local demand from refiners remains relatively strong as alternative sour crude grades in the North Sea have also seen a boost to differentials.
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