Urals differentials weakened in northwest Europe after an extra 100,000 tonne cargo was added to an already long loading plan from Baltic ports in April, taking the total to 7.2 million tonnes.
Rosneft added the 100,000 tonne position to the Primorsk export plan for April 28-29, traders said. The cargo was allocated to Glencore under a long-term contract.
An 80,000-tonne Urals cargo was added to Novorossiisk's export plan on April 25-26 by Tatneft and the cargo was allocated to Vitol. Traders had previously thought this cargo would be loaded on April 22-23.
In the Platts window Vitol sold 100,000 tonnes of Urals loading on April 30-May 4 to ExxonMobil at a discount of $2.85 a barrel to BFOE, traders said. It was 30 cents lower than the level at which Vitol sold a Urals cargo to Mercuria last week.
In the Mediterranean, Urals differentials remained around the same levels as Monday, but traders expected prices to weaken soon as there were still a handful of cargoes available for loading in April and demand for these cargoes eased.
However, buyers and sellers could not agree on price levels.
In the Platts window Tenergy offered its 80,000 tonnes loading from Novorossiisk on April 24-28 down to a discount of $1.65 a barrel to BFOE, which was 5 cents cheaper compared with Monday, but buyers were not interested.
Vitol offered the Urals cargo of the same size loading on April 22-26 at a discount of $1.55 a barrel to BFOE, but also did not find a buyer, traders said.
Litasco bid for 80,000 tonnes of Urals loading from Novorossiisk on April 27-May 1 in the window at a discount of $1.80 a barrel to BFOE, but the sellers were not interested.
The CPC Blend loading plan for May was released showing a limited export volume of the grade next month - 3.46 million tonnes, 230,000 tonnes up on April's revised plan, but still down on March's more typical 4.1 million tonnes.
TENDERS
Turkey's TPAO issued a tender to sell 135,000 tonnes of Azeri light loading from the Turkish port of Ceyhan on May 21-23, traders said. The tender will close on April 13. (Full Story)
Turkey's Tupras closed a tender on Tuesday to buy 80,000 or 135,000 tonnes of CPC Blend or Western Desert for delivery to Turkish ports on May 1-10. The results were slow to emerge.
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