Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address*Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

IF you are a Platts Market Center subscriber, to reset your password go to the�Platts Market Center to reset your password.

In this list

Urals CIF Rotterdam hits record high on tight supply, strong demand


Turkey in focus: Steelmakers cope with challenging export market, high scrap prices


Platts Rigs and Drilling Analytical Report (RADAR)

Oil | Crude Oil | Oil Risk | Petrochemicals | Aromatics | Olefins | Petrochemicals Risk | Polymers | Solvents & Intermediates

S&P Global Platts University (at MEEPEC)


Crude oil futures mixed ahead of EIA stocks report; ICE Brent up at $66.48/b, NYMEX WTI down to $56.16/b

Urals CIF Rotterdam hits record high on tight supply, strong demand

Urals CIF Rotterdam was assessed Thursday at a record high of Dated Brent plus $0.695/barrel, Platts data showed, on tight supply and strong buying interest in Northwest Europe.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Urals CIF Rotterdam rose from Dated Brent plus $0.52/b the previous day.

The previous record high had been Dated Brent plus $0.56/b on July 15. Prior to 2013, Urals CIF Rotterdam had breached the Dated Brent plus $0.50/b mark only once, in August 2012.

Traders attributed the strength to continued demand at a time of very tight crude supply in Europe, following several smaller-than-usual Urals programs and outages at Iraq's Kirkuk and several Libyan grades.

"There are not many cargoes available now," one refiner said Friday. "I would be surprised now to see anyone willing to sell at below Dated Brent plus $0.70/b. However, we wouldn't pay these numbers any more, and I'm not sure how many around would do."

In the Platts Market on Close assessment process Thursday, Petraco bid for a cargo loading August 23-27. After increasing the bid to Dated Brent plus $0.70/b, Petraco were hit with a cargo by Glencore.

Urals in NWE however has lagged behind the much stronger Mediterranean market.

Urals CIF Augusta was assessed Thursday at Dated Brent plus $1.00/b, close to but still below its all-time record high of Dated Brent plus $1.03/b, achieved on July 7 2013.

--Robert Beaman,
--Elza Turner,
--Edited by Jeremy Lovell,