OIL: China Receives More Urals From Russian Western Ports

Urals crude exports to China from Russia's Western ports rose in February month on month on lower freight costs and rising demand, Reuters sources said.

• Shipments of Urals from Primorsk, Ust-Luga and Novorossiisk to China this month will rise to 9% оf crude loadings from these ports, compared with 6% in Jan, according to traders, shippers, Refinitiv Eikon data and Reuters calculations.
• Preliminary numbers suggest Russia will load at least 0.7mn tons of Urals from Western ports this month, up from 0.5mn tons in Jan.
• Urals supplies ship-to-ship transfers points for further delivery to Asia this month will reach 1.5mn tons, down from 2mn tons in Jan.