Med crude-Urals differentials stable, US to hit India with penalties for Russian oil buying

MOSCOW, July 30 (Reuters) - Urals crude differentials to dated Brent were stable on Wednesday, though traders expected possible changes after U.S. President Donald Trump said the state would hit India with additional penalties for Russian oil purchases.

India is the largest buyer of Russian oil by sea and a major buyer of Urals oil taking over 70% of monthly exports, according to Reuters data.

The Indian government said in a statement that it was studying the implications of Trump's announcements and remained dedicated to securing a fair trade deal with the U.S.

BP BP.L, the operator of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, said on Wednesday it was continuing its extensive quality assessment of Azeri BTC oil by taking samples before each loading at the terminal.

The Azeri BTC oil price remained under pressure due to the contamination issues, traders said.

PLATTS WINDOW

• No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Wednesday.

NEWS

• Premiums for ESPO Blend crude oil loading from Russia's Kozmino port in late August to early September for delivery into China have held firm as buyers seeking to meet robust demand ignore the threat of increased U.S. tariffs, four traders said on Wednesday.

• U.S. crude oil inventories rose sharply last week amid a decline in exports, while gasoline and distillate stockpiles fell, the Energy Information Administration said on Wednesday.