The price of Urals brand, the main export grade of Russian oil, for shipment on Aframax-type vessels (deadweight — 80–120 thousand tons) from Novorossiysk this week, December 16, has fallen to $34.52 per barrel, according to data from the international pricing agency Argus.
At the same time, the Urals discount to the 'North Sea dated' quote (NSD, the cost of a basket of North Sea grades Brent, Forties, Oseberg, Ekofisk, Troll, as well as American WTI Midland) in Novorossiysk was $23.75 and $25.55 per barrel for Suezmax and Aframax vessels, respectively. This level was reached on December 10.
On a FOB Primorsk basis, the Urals grade fell to $36.07 per barrel on December 16, and the discount was $24 (it has also been at this level since December 10).
At the same time, the premium ESPO brand (VSTO) on a FOB Kozmino basis fell to $46.3 per barrel on December 17, a decrease of $0.3.
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