Shorter programmes buoy Urals

摘要

Urals discounts to North Sea Dated narrowed in northwest Europe and the Mediterranean,as tight early-November pro-grammes lent support.BTC Blend premiums held steady, underpinned by strong demand for middle distillate-rich crudes.CPC Blend premiums came under pressure from steadily eroding naphtha margins.The benchmark rose by over$2/bl on the week to$86.38/bl. In northwest Europe,Total bought a 100,000t Urals cargo that is scheduled to load between 31 October and 4 November at a$1.10/bl discount from trading company Vitol.The latter sold cargoes with similar loading dates to Poland’s PKN Orlen in a earlier tender at this kind of level.In the Mediterranean,Lukoil bid for a cross-month cargo at a dis-count of 50￠/bl,but found no takers.