Black Sea Urals rises to record highs

摘要

Russian Black Sea Urals has climbed to record highs against benchmark North Sea Dated, spurred by tight August supplies and demand for fuel oil-rich crude. Urals cargoes of 600,000 bl and 1mn bl loading at the Black Sea port of Novorossiysk have risen to $1.25/bl and $1/bl premiums to North Sea Dated, respectively (see graph).