Mediterranean Urals Crude at Premium for First Time in 8 Months

Russian Urals crude in the Mediterranean rose to a premium to Dated Brent for the first time in more than eight months, data compiled by Bloomberg show.

The grade climbed to 1 cent a barrel more than Dated Brent yesterday, according to the data. That’s the first time it has been at a premium to the benchmark since Aug. 20.

Daily exports of Urals from the Black Sea port of Novorossiysk dropped this month by 2.3 percent to 699,897 barrels, the lowest since January, loading schedules obtained by Bloomberg News showed.

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