A possible escalation in eastern Ukraine is an “acceptable risk” as Russian Urals oil prices trade near a 12-month high. About this with reference to sources in trade circles reported analytical agency S&P Global Platts.
“Given the lack of barrels on the market, this [вторжение] acceptable risk,” a Urals trader said on condition of anonymity.
Another source at a European refinery told the agency that sour grades, such as Urals crude, have been in demand lately due to a shortage of crude oil in Europe.
Another trader told S&P Global Platts that the depreciation of futures contracts for difference (CFDs) is a sign of a possible slowdown in physical market Urals. Traders buy CFDs to hedge their exposure to the physical spot price of a barrel, he said.
