Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1694
    +0.0000 (+0.00%)
     
  • GBP/USD

    1.2616
    -0.0006 (-0.05%)
     
  • Bitcoin GBP

    55,710.24
    -369.70 (-0.66%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

North Sea Crude-Forties steady, tighter supply supports

LONDON, Sept 13 (Reuters) - * Forties price differentials steadied on Tuesday, remaining at a premium to benchmark dated Brent as tighter supplies lent support.

* Three September-loading Forties cargoes have been dropped, according to trade sources, and several others have had their loading dates delayed because of lower than expected supply.

* The Buzzard oilfield will begin a month-long maintenance shutdown on Sept. 17 as planned, an industry source said, further reducing Forties output.

* A VLCC, Hakata, has sailed to China with a cargo of Forties, the first such shipment this month, according to shipping data. Another could follow as another VLCC, Baltic Sunrise (Shenzhen: 300360.SZ - news) , is anchored off Hound Point.

ADVERTISEMENT

WINDOW SUMMARY

* Forties: Vitol sold to Glencore (Frankfurt: 8GC.F - news) a Forties cargo loading on Sept. 29-Oct (HKSE: 3366-OL.HK - news) . 1 at dated Brent plus 15 cents. That is down 10 cents from a bid on Monday.

Petroineos bid an Oct. 1-8 cargo to dated Brent plus 35 cents, valuing Forties on average at dated plus 28 cents, steady from Monday.

* Brent: Glencore bid at dated Brent plus 25 cents for a Sept. 24-26 cargo, in line with a trade on Monday.

* Ekofisk: BP bid for an Oct. 5-8 cargo at dated Brent plus 50 cents, 10 cents higher than a trade on Monday. That is equal to dated Brent plus 18 cents when allowing for the quality premium for October Ekofisk cargoes of 32 cents.

* Ekofisk is still the cheapest benchmark grade based on Tuesday's indications and sets dated Brent.

(Reporting by Alex Lawler; editing by William Hardy)