Sunday, May 20, 2018

North Sea Crude-Forties Slips to Lowest Since mid-2017

Posted by February 14, 2018

File Image: CREDIT Fendercare

North Sea Forties crude differentials weakened on Wednesday to the lowest since mid-2017.

 
Gunvor sold a cargo from floating storage. Such sales are often seen as a sign of a plentifully supplied market.
 
PLATTS WINDOW
Forties: Glencore bought from Gunvor a cargo loading on a ship-to-ship transfer basis from the Blue Pride on Feb. 28-March 2 at dated Brent minus 65 cents.
 
Gunvor also offered a Feb. 25-27 cargo at dated Brent minus 70 cents, meaning on average Forties was worth dated minus 70 cents, equalling the mid-2017 low reached on Monday. (Reporting by Alex Lawler

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