Urals diffs steady as market uncertainty weighs

Urals crude oil differentials were unchanged on Friday while there was no certainty on rules for the trade of December cargoes of the Russian grade.

• A meeting of European Union government representatives, scheduled for Friday evening to discuss a Group of Seven (G7) proposal to cap Russian seaborne oil prices, was cancelled, EU diplomats said.

• December Urals oil trading was stalled with no clarity on loading volumes for the next month, traders said.

• Traders said that if any December cargoes had been placed, the deals were done quietly.

PLATTS WINDOW

• No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Friday, traders said.

NEWS

• Poland is seeking German support to slap EU sanctions on the Polish-German section of the Druzhba crude pipeline so Warsaw can abandon a deal to buy Russian oil next year without paying penalties, two sources familiar with the talks said.