Med crude-Urals differentials unchanged, winter weather weighs on shipping costs-March 2024-www.financetom.com

Med crude-Urals differentials unchanged, winter weather weighs on shipping costs

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Med crude-Urals differentials unchanged, winter weather weighs on shipping costs

Dec 9, 2024 1:41 PM

MOSCOW, Dec 9 (Reuters) - Urals crude differentials to

dated Brent were unchanged on Monday, while bad winter weather

started to push shipping costs for oil cargoes up, traders

said.

Shipping costs increased due to rising delays in Turkish

straits, traders said. On Monday delays for passing via

Bosphorus and Dardanelles rose to 8-10 days for a one-way trip,

according to Riverlake agency. Traders also expected freight rates to rise for Russian oil

loading from its northern ports amid ice class requirements for

vessels due to upcoming tough ice conditions.

PLATTS WINDOW

* No bids or offers were shown for Urals, Azeri BTC or CPC

Blend

in the Platts window on Monday.

NEWS

* Russian President Vladimir Putin signed a decree on

Monday,

extending the sale period for Exxon's stake in Russia's

Sakhalin-1 oil and gas project for one year until Jan. 1, 2026.

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