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Med Crude-Urals offered higher, waiting for Saudi prices

Thu Jul 2, 2009 10:32pm IST
 
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* Urals offered at dated plus 20 cents in NWE

* Participants awaiting Saudi prices

LONDON, July 2 (Reuters) - Russian Urals was offered higher in northwest Europe on Thursday but buying interest was muted as participants awaited Saudi Arabia's official selling prices, which influence the value of the Russian grade.

Urals is still underpinned by solid demand for sour crude and lower supplies of competing crudes as Middle East OPEC exporters curb supplies. The Saudi prices are expected to emerge in the next few days.

"It's still well supported, despite the weak margins," said a trader of the Russian crude.

URALS

* In the north, Gunvor offered a July 19-23 cargo at dated plus 20 cents, traders said. That was some way away from the last known deal, done on Tuesday at dated minus 35 cents.

* In the Mediterranean, the last known deal was at dated minus 25 cents on Thursday. No bids or offers were seen in Thursday's window.  Continued...

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