LONDON, April 29 (Reuters) - North Sea Forties crude differentials fell on Monday after fresh selling interest in the Platts window, while U.S. WTI Midland differentials held steady in fresh trade.
LOADINGS
* Supply of the five North Sea crude oil grades underpinning the dated Brent benchmark will average about 537,000 barrels per day (bpd) in June, compared with 654,000 bpd in May, loading programmes showed.
* Brent will load one cargo in June, Oseberg will load two, Troll will load five, Forties will load seven and Ekofisk will load eight.
* Loadings of nine North Sea crude grades will average 1.64 million barrels per day (bpd) next month, compared with the 1.72 million bpd originally planned for May.
* The grades surveyed include the five underpinning the dated Brent benchmark as above, as well as Grane, Gullfaks, Statfjord and Johan Sverdrup.
PLATTS WINDOW
* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight $(CIF)$ or delivered at place (DAP).
* WTI Midland: Vitol bought a May 18-22 cargo from Trafigura at dated Brent plus $1.70 CIF Rotterdam.
* The deal equated to around dated plus 66 cents on an FOB basis, according to Reuters calculations.
* On Friday, Trafigura had offered two cargoes, of which the lowest was for CIF Rotterdam May 13-17 at dated plus $1.95. On Thursday, two cargoes had traded at dated plus $1.70 CIF.
* Forties: Shell offered a May 21-23 cargo at dated plus 60 cents.
* The outstanding offer made Forties the cheapest grade underpinning dated Brent on Monday, and therefore set the benchmark.
(Reporting by Robert Harvey; Editing by Richard Chang)
((Robert.Harvey@thomsonreuters.com; +447552256587))
(( NORTH SEA CRUDE OIL DIFFERENTIALS AND OUTRIGHT PRICES:
Dated BFO
Brent
Forties
Oseberg
Ekofisk
Monthly North Sea crude loading programmes
OPEC North Sea
crude oil oil products
derivatives European products
energy speed guide crude speed guide))
Comments