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North Sea Crude-Brent, Forties diffs firm

Tue, 05th Oct 2021 19:44

LONDON, Oct 5 (Reuters) - North Sea Brent Blend and Forties
differentials rose on Tuesday after a deal and higher bids than
in previous sessions.

* Trading firm Vitol has started taking delivery of oil from
Russia's top producer Rosneft under a new long-term
supply deal as the two companies deepen their cooperation, four
industry sources told Reuters.

* Analytics firm Vortexa said in a note that Forties
on-the-water level was rising off the UK as Chinese refiners
shift to buy more heavy, sour Johan Sverdrup for higher returns
amid constrained import quotas and in part to compensate for
lower, alternative Angolan output.

* Vortexa said the volume was over 16 million barrels, half
of which was floating storage, as of early October, up sharply
from around 7 million barrels in late July and above levels seen
one and two years ago.

PLATTS WINDOW

Indications are on a free-on-board (FOB) basis unless marked
as cargo, insurance and freight (CIF).

* Forties: Vitol sold a cargo to Gunvor at dated Brent plus
25 cents loading Oct. 29-31.

OUTSTANDING BIDS AND OFFERS

* Brent Blend: Total bid for a cargo at dated Brent plus 45
cents loading Oct. 29-31.

* Brent Blend: Total bid for a cargo at dated Brent plus 45
cents loading Oct. 20-22.

* Forties: Total bid for a cargo at dated Brent plus 45
cents loading Oct. 23-29.

* Forties: Total bid for a cargo at dated Brent flat loading
Oct. 29 to Nov. 2.

* Ekofisk: Trafigura offered at dated Brent plus $1.10
loading Oct. 17-21 cif Rotterdam, or plus 56 cents on a fob
basis.

* Forties: Trafigura offered at dated Brent plus $1.00
loading Oct. 17-21 cif Rotterdam, or plus 33 cents fob.

* Forties: Glencore offered at dated Brent plus 80 cents
loading Oct. 22-26 cif Rotterdam, or plus 13 cents fob.

* Ekofisk: Glencore offered at dated Brent plus 60 cents
loading Oct. 25-27.

* Ekofisk: Glencore offered at dated Brent plus 70 cents
loading Oct. 27-29.

* Forties: Glencore offered at dated Brent plus 5 cents
loading Oct. 19-21.

* Forties: Glencore offered at dated Brent minus 5 cents
loading Oct. 15-17.
(Reporting by Julia Payne
Editing by Marguerita Choy and Will Dunham)

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