Urals is heading east to Asia-Pacifc after a break of several months. Long-haul exports east of Suez have been encouraged by discounts for Urals to benchmark North Sea Dated and a reduced premium for Ice Brent futures against Dubai swaps. Trading frm Vitol is shipping a Baltic Urals cargo to Malaysia — the Gemini Sun loaded at Ust-Luga on 5 October and should deliver to Vitol’s ATB terminal at Tanjung Pelepas early next month. And trading company Trafgura is expected to take a 140,000t Black Sea Urals cargo to China on the Delta Spirit — the Surgut- neftegaz crude is scheduled to load at the port of Novorossiysk on 13-14 October.
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