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North Sea Crude-Differentials rise as floating glut dissipates

Reuters - UK Focus

LONDON, Sept 5 (Reuters) - North Sea crude differentials rose across the board on Monday, aided by a rally in the flat price and after a glut of unsold barrels appeared to dissipate late last week.

* Crude stored on ships, mainly Forties, fell to about two 80,000 tonne cargoes -- the Searanger and the Stride late last week. The VLCC Maran Thetis that sat with Forties off Hound Point for just over a month set sail on Thursday to Tenerife, Reuters ship-tracking showed.

* The VLCC Hakata, currently chartered by Vitol, is anchored off Hound Point, ready to load Forties, meanwhile Irving has chartered the Umlma to load Norwegian crude at Mongstad and sail to the U.S (Other OTC: UBGXF - news) . East Coast next week, according to shipping data.

* The SCF Surgut, which loaded crude at Sture in Norway at the start of August, set off for Gothenburg, Sweden, on Friday after sitting off the British coast for a month.

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WINDOW SUMMARY

* Vitol sold Glencore (Xetra: A1JAGV - news) a cargo of Brent for loading Sept. 18-20 at a discount of 27 cents to the dated price.

* Glencore bid for a cargo of Brent for Sept. 21-30 at 5 cents above the dated benchmark.

* Petroineos bid for a cargo of Brent for loading Sept. 28-Oct (Shenzhen: 000069.SZ - news) 6 Dtd at 10 cents above the dated price.

EKOFISK/OSEBERG

* Statoil (LSE: 0M2Z.L - news) sold Shell (LSE: RDSB.L - news) a cargo of Oseberg for Sept. 20-22 at a premium of 74 cents to dated Brent.

* Glencore bid for a cargo of Ekofisk for loading Sept. 25-Oct 2 at 40 cents above dated Brent.

FORTIES

* Vitol withdrew an offer of a cargo of Forties for Sept. 16-18 at parity with dated Brent.

* Vitol withdrew a second offer for Forties for loading Sept. 18-23 via STS at Scapa Flow from the VLCC Marbat at 25 cents above the dated price.

* Glencore bid for a cargo of Forties for loading Sept. 16-21 at a discount of 5 cents to dated Brent.

* Petroineos bid for a cargo of Forties for loading Sept. 22-30 at 10 cents above the dated price. (Reporting by Amanda Cooper; Editing by Jane Merriman)