Urals diffs unchanged, Greek shippers back to the market

Russian Urals crude oil differentials to dated Brent were stable, while Greek shipping firms increased their presence in the grade's market, the sources said.

Greek shipowners are returning to Russia's Urals oil market as the price slides below the Western price cap of $60 per barrel, allowing them to provide transport and insurance services while complying with sanctions, three trading sources said.

Freight rates for Russian oil were seen stable to lower amid higher availability of vessels, traders said.

PLATTS WINDOW

• No bids or offers were shown for Urals, CPC Blend and Azeri BTC in the Platts window on Monday.

NEWS

• The United States imposed sanctions on Monday on three vessels and their owners for delivering oil and gas products to Yemen's Houthis, as Washington piled pressure on the Iran-backed rebels over their attacks on Red Sea shipping.

• India increased purchases of ESPO Blend oil from Russia in April to the highest level since August 2024 amid weaker demand from Chinese companies, according to LSEG and traders' data.