Urals Crude Drops to Two-Month Low as Supply to Europe Gains
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Russian Urals crude dropped to its biggest discount versus Dated Brent in more than two months as loading programs showed exports to Europe are poised to increase in January.
The Urals differential in northwest Europe increased to $1.35 a barrel less than Dated Brent today, according to data compiled by Bloomberg. That’s the largest since Oct. 9. In the Mediterranean, the grade’s discount to the benchmark widened to $1.01, the most since Oct. 25, the data show.