Several Chinese state-owned refiners have returned to the Russian spot market to buy May-loading Urals crude barrels, attracted by their record discount to Dated Brent, refining sources told S&P Global Commodity Insights March 22. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “We will have a cargo of Urals for delivery in June, the price is quite low,” a source with a state-owned refinery in southern China said. The discount for a Suezmax cargo of Urals against Dated Brent recovered slightly to $32.675/b on an FOB Novorossiisk basis March 21 from a record $33.36/b on March 15, S&P Global Commodity Insights’ Platts assessment showed. “The price of the cargo for CFR China is a discount of around $17/b, ” the refining source said. Other refining sources with Sinopec and PetroChina in the central, east, northeast and south of China said the price was attractive, with […]