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Urals dimes steady in muted business

The differentials between Brent and Urals crude were not much changed on Friday. However, Russia's oil plans for September could be revised after a drone attack was carried out on the Rosneft oil refinery in Ryazan.

Two industry sources said that Ryazan had suspended operations at the CDU-6, its main crude distillation unit due to an fire caused by a UAV attack.

India's finance minister stated on Friday that it will continue to purchase Russian oil if it is economical. This was despite the Trump Administration's decision on Friday to impose high import tariffs on Indian products due in part to India's energy purchases from Moscow. Energy chief of the European Union said on Friday that the EU is committed to its plan to phase out Russian crude oil by 2028. He added that Washington had not pressed him to move the date. Rosneft Germany said that oil flows through the Druzhba pipe to Germany's PCK refining facility are expected to be back to normal by this weekend following repairs to the damage.

PLATTS WINDOW

On Friday, no bids or offers for Urals BTC, Azeri BTC Blend or CPC blend were made in the Platts Window.

* On Friday, President Volodymyr Zelenskiy stated that Ukraine will continue to respond in response to Russian attacks against its energy facilities despite criticisms from Slovakia and Hungary who have suffered Russian oil disruptions. Mark Porter (Reporting)

(source: Reuters)