Urals crude differentials to dated Brent held steady on Friday, while a Ukrainian drone attack on Russia’s northwestern port of Primorsk has for the first time forced the suspension of loadings at its key western oil terminal.

Primorsk has a capacity to load about 1 million barrels per day (bpd) of crude, making it a key export hub for Russian oil and the largest port in western Russia. The port loads a flagship Russian Urals oil grade as well as about 300,000 bpd of diesel.

It was not clear if the operations had resumed at the time of writing.

Oil prices rose on Friday after a Ukrainian drone attack on a Russian port suspended loadings, outweighing pressure from oversupply concerns and weaker U.S. demand risks.

PLATTS WINDOW

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

NEWS

The European Commission is set to present a proposal on Wednesday for a 19th package of sanctions against Russia.

The package will target Russia’s shadow tanker fleet and banks and include further curbs on sales of Russian oil, the EU’s chief diplomat Kaja Kallas said earlier on X.
Source: Reuters