Crude Oil — Asian Dragnet Keeps Scooping Urals Volumes

摘要

The movement of Urals cargoes from the Baltic to the Mediterranean tapered down to a trickle over the week as a narrower spread between Urals Northwest Europe and Urals Med has exhausted possibilities of arbitrage be- tween the two regions. Russian oil producers have di- verted oil from Belarus to seaborne routes as Moscow and Minsk have struggled to agree on annual crude supply terms. However, this barely re- flects into February Urals exports, with a new schedule pointing to am- ple yet relatively steady supply.