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North Sea Crude-Higher bids lift Forties and Brent

Thu, 11th Mar 2021 17:47

LONDON, March 11 (Reuters) - North Sea Brent and Forties
crude differentials ticked up on the back of higher bids on
Thursday.

* Commodities and energy pricing agency Argus Media said
some traders looked at switching to the Argus dated Brent when
competitor Platts, which sets the benchmark used by the
industry, faced a backlash after announcing reforms.

* Tanker freight rates from Hound Point to Wilhelmshaven are
at their highest since May 2020 at 112.5 worldscale, according
to Riverlake/Refinitiv Eikon data. <RL-NSEAUKC-AF>

PLATTS WINDOW

* Forties: Glencore sold to Shell cif Rotterdam at dated
Brent plus $1.00 loading April 2-6. On a fob basis, according to
Reuters calculations, this equates to plus 20 cents.

* Brent: Glencore sold to Vitol cif Rotterdam at dated Brent
plus $1.10 loading March 29-April 2. On a fob basis, according
to Reuters calculations, this equates to minus 8 cents.

OUTSTANDING BIDS AND OFFERS

* Forties: Vitol bids at dated Brent plus 25 cents loading
April 3-10.

* Brent: Total bid at dated Brent plus 20 cents loading
April 1-3.

* Forties: Mercuria bid at dated Brent plus 20 cents loading
April 7-9.

* Brent: Mercuria bid at dated Brent flat loading March
22-26.
(Reporting by Alex lawler, Editing by Jane Merriman and Elaine
Hardcastle)

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