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Med Crude-Urals show signs of easing, Russian export fall

Thu May 28, 2009 11:00pm IST
 
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* Urals near 7-year highs

* Russian exports to fall 3.4 pct in June vs May

LONDON, May 28 (Reuters) - Urals crude oil changed hands at a discount to dated BFOE in North West Europe on Thursday, suggesting values could be edging lower, traders said.

"There is a hint that it could soften," said one.

On Wednesday Urals cargoes had been offered at a premium to dated, reaching their highest level for seven years, according to Reuters data.

Urals' strength reflects OPEC supply cuts of sour crudes, strong demand from Asia, where arbitrage economics are favourable and reduced exports from Russia in June.

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