Russian Urals crude differentials to dated Brent were unchanged on Friday as trading activity remained low, while two tankers involved in Russian oil shipments were hit by blasts near Turkey’s coast, the country’s authorities said.
The blasts caused fires on the two tankers from Russia’s shadow fleet in the Black Sea near the Bosphorus strait, and rescue operations were launched for those on board, Turkish authorities and sources said. Both vessels are under Western sanctions, according to LSEG, and had no oil onboard.
Tanker Incidents Rock Black Sea
The Kairos was heading to Russia’s Novorossiisk port when it reported “an external impact” causing a fire 28 nautical miles off the Turkish shore, Turkey’s Maritime Affairs Directorate said. The incident may increase the cost of insurance and freight for the vessels in the region, traders said, while Russian oil sellers will have to look for a replacement tanker, which will not be easy.
Urals Differentials Unchanged
No bids or offers were made on Friday for Urals, Azeri BTC and CPC Blend, traders said. The lack of trading activity kept differentials stable, as market participants await further developments in the global oil landscape.
Original Article: Urals differentials stable, two shadow fleet vessels hit by blasts — Tradingview