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OIL: North Sea Crude-Forties declines, WTI Midland inches up: Reuters

OIL
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North Sea Crude-Forties declines, WTI Midland inches up: Reuters

  • North Sea crude differentials were mixed on Tuesday, with Forties weakening and WTI Midland rising slightly.
  • There was one deal in the Platts window on Tuesday.
  • Forties: Glencore bought from Unipec for March 2-6 at dated Brent plus 65 cents on a CIF Rotterdam basis, equivalent to 32 cents minus dated Brent, according to Reuters calculations. That's a drop from a bid by Glencore on Monday at dated Brent plus 25 cents.
  • WTI Midland: Mercuria offered at dated Brent plus 90 cents for March 3-7 on a CIF Rotterdam basis or dated Brent plus zero on an FOB basis. Trafigura bid at 95 cents for March 8-12 on a CIF Rotterdam basis or dated Brent plus 5 cents on a FOB basis.
  • This averages to a value for WTI Midland of dated Brent plus 92.5 cents on a CIF Rotterdam basis or dated Brent plus 2.5 cents on an FOB basis, a small increase from Monday.
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North Sea Crude-Forties declines, WTI Midland inches up: Reuters

  • North Sea crude differentials were mixed on Tuesday, with Forties weakening and WTI Midland rising slightly.
  • There was one deal in the Platts window on Tuesday.
  • Forties: Glencore bought from Unipec for March 2-6 at dated Brent plus 65 cents on a CIF Rotterdam basis, equivalent to 32 cents minus dated Brent, according to Reuters calculations. That's a drop from a bid by Glencore on Monday at dated Brent plus 25 cents.
  • WTI Midland: Mercuria offered at dated Brent plus 90 cents for March 3-7 on a CIF Rotterdam basis or dated Brent plus zero on an FOB basis. Trafigura bid at 95 cents for March 8-12 on a CIF Rotterdam basis or dated Brent plus 5 cents on a FOB basis.
  • This averages to a value for WTI Midland of dated Brent plus 92.5 cents on a CIF Rotterdam basis or dated Brent plus 2.5 cents on an FOB basis, a small increase from Monday.