Med crude-Urals trades at discount vs Brent, Russia's refineries cut runs after drone attacks

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MOSCOW, June 10 (Reuters) - Urals crude traded at discount to dated Brent amid cooling demand in Asia, while several major Russia's refineries suspended processing after intensified Ukrainian drone attacks, traders said.

Russian Urals crude has flipped to a discount against dated Brent at Indian and Chinese ports amid a fall in demand from Asian refiners.

Urals cargoes for delivery to India in July and August have this month traded at discounts of between $2 and $3 a barrel to dated Brent, compared to a premium of $7 to $8 a barrel in April and May, the sources said.

Meanwhile ongoing Ukrainian drone strikes on Russian refineries lead to unplanned shutdowns and as a result lower runs, traders said. Less oil refining may lead to higher crude oil exports.

Most recently Russian oil producer Rosneft's Kuibyshev oil refinery halted oil processing on June 10 following a drone attack, two industry sources told Reuters.

PLATTS WINDOW

  • There were no bids or offers on Wednesday for Urals, CPC Blend and Azeri BTC, traders said.

NEWS

  • Russia on Wednesday condemned an EU decision to authorise EU military vessels in the Mediterranean to stop and inspect foreign ships suspected of being part of a "shadow fleet" transporting Russian oil, and said it would take all necessary legal and other measures to protect them.

  • U.S. crude stocks fell sharply last week as refiners continued to boost activity to fill supply gaps caused by the Iran war, the Energy Information Administration said on Wednesday.


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