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North Sea Crude-Forties eases, Vitol offers cargoes via STS
LONDON, Dec (Shanghai: 600875.SS - news) 7 (Reuters) - North Sea Forties differentials slipped on Wednesday, after a flurry of discounted offers met with no buyers and persistent signs that the market remains oversupplied.
* Vitol once again offered cargoes for loading via ship-to-ship transfer, often perceived by traders to be a sign of a market that is having trouble drawing buyers.
* In flows, at least three million barrels of Norwegian crude oil will cross the Atlantic (Shanghai: 600558.SS - news) in December, according to Reuters shipping data.
* Statoil (LSE: 0M2Z.L - news) has booked the suezmax Pserimos to load a North Sea crude in the week of Dec. 20 to go to the U.S. east coast. This is the third such cargo of Norwegian oil scheduled to cross the Atlantic this month, after PES booked the Everbright for a trip from Mongstad to the U.S. east coast and Statoil booked another suezmax, the Shenlong Spirit, for the same voyage next week.
WINDOW SUMMARY
* Total (LSE: 524773.L - news) bid for a cargo of Brent for loading Jan 5-7 at a discount of 30 cents to the dated price.
* Glencore (HKSE: 0805.HK - news) offered Forties for loading Dec 22-24 at 55 cents below the dated price.
* Shell (LSE: RDSB.L - news) offered Forties for loading Dec 24-26 at a discount of 50 cents to dated Brent.
* Gunvor bid for one cargo of Forties for loading Jan 3-5 at a discount of 40 cents to dated Brent and for a second loading Dec 29-31 at the same price.
* Glencore offered Ekofisk for loading Dec 22-24 at a premium of 25 cents to dated Brent. The quality premium for December-loading cargoes of Ekofisk is 28 cents and 35 cents for January.
WITHDRAWN
* Glencore withdrew an offer for Brent for loading Dec 24-26 at 50 cents below the dated benchmark.
* Total withdrew a bid for Brent for loading Dec 20-26 at 60 cents below the dated price.
* Vitol withdrew a offer for Forties for loading Dec 17-19 via STS (Shanghai: 603322.SS - news) at Scapa Flow from the New Success at 30 cents below dated Brent.
* Gunvor withdrew a bid for Ekofisk for loading Dec 31-Jan 2 at a premium of 25 cents to the dated price.
* Shell withdrew an offer for Brent for loading Dec 29-31 at a discount of 15 cents to the dated price. (Reporting by Amanda Cooper; Editing by Susan Fenton)
