Discounts on Russian Urals oil in western Russian ports on FOB (Free On Board) terms increased to $26.45-28.2 per barrel by the end of December from $20.1-22.5 per barrel in November.
According to data from the Argus agency, discounts at Indian ports increased by a little more than $3 per barrel, ESPO fell by $6.9 per barrel, and the discount in China increased by $7 per barrel , Interfax-Ukraine reports .
Thus, in the Primorsky Port, the Russian Urals grade was sold on December 29 at a discount of $26.45 per barrel to the reference quote “North Sea Dated” (NSD, reflecting the cost of a basket of North Sea grades Brent, Fortis, Oseberg, Ekofisk and Troll, as well as the American WTI Midland grade) compared to a discount of $20.11 per barrel in November.
In the port of Novorossiysk, discounts increased slightly more significantly: the discount on the Urals Med Suezmax fob Novorossiysk quotation increased by $5.4 per barrel – from $20.995 in November to $26.4 at the end of December, and the discount on the Urals Med Aframax fob Novorossiysk quotation to NSD increased by $5.7 per barrel – from $22.505 to $28.2 per barrel.
According to Argus, the discount for Russian Urals in Indian ports (DAP West Coast India) by the end of December increased by $3.04 per barrel – from $4.97 to $8. The discount for another grade of Russian oil – ESPO, sold from the port of Kozmino in the east of the country, to the Dubai grade according to the results of trading on December 29 reached $14 per barrel against $10.05 per barrel in November (an increase of $3.95 per barrel).
The discount of Urals for delivery to China (Urals DAP Shandong) to ICE Brent at $1.94 per barrel in November increased to $9 per barrel at the end of December.
As of December 29, the NSD oil quote was $62.52 per barrel, compared to $63.63 per barrel in November.
At the same time, Urals at the port of Primorsk on this date was sold at an average of $36.07 per barrel compared to $40.39 per barrel in November. The Urals Med Aframax FOB Novorossiysk quote on December 29 was $34.32 per barrel compared to $41.13 per barrel a month earlier. Джерело: https://censor.net/n3593531
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