Urals firmer on fuel oil strength

摘要

Fuel oil margins firmed to their strongest levels in over a year,buoying demand for early-September-loading supplies of fuel oil-rich Russian Urals loading from Baltic ports.But Black Sea Urals discounts to North Sea Dated widened under pressure from arbitrage offers of cheaper Baltic-loading Urals. Iraqi medium sour Basrah Light came under pressure from lacklustre Asia-Pacific interest in September-loading cargoes and amid lower values for rival Urals in the Mediterranean.Basrah Light was assessed at discounts of$0.50-1.00/ bl to the September official price.