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North Sea Crude-Forties slips, June benchmark supply to fall

Reuters - UK Focus

LONDON, May 3 (Reuters) - * Forties differentials slipped on Tuesday as Eni (LSE: 0N9S.L - news) finally sold a late-May cargo it had been offering in the Platts window since last week. * The full set of loading programmes for benchmark grades was issued on Tuesday, pointing to the lowest output in almost two years. This could support the value of June-loading cargoes.

JUNE PROGRAMMES

* Supply of Brent, Forties, Ekofisk and Oseberg (BFOE) will fall in June to 740,000 barrels per day, mainly due to summer maintenance on Ekofisk oilfields, the lowest since August 2014 according to Reuters data.

WINDOW SUMMARY

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* Glencore (Xetra: A1JAGV - news) bought from ENI a Forties cargo loading on May 20-22 at dated Brent minus 90 cents.

* That was weaker than a similar offer by Eni on Friday and down from the last Forties value of dated minus 70 cents.

* No other trades, bids or offers were reported for other benchmark grades. (Reporting by Alex Lawler; editing by David Clarke)