North Sea Crude ‑ Grades drop as US says more cargoes leave Hormuz
North Sea Crude ‑ Grades drop as US says more cargoes leave Hormuz LONDON, June 18 (Reuters) - North Sea and WTI Midland crude oil differentials weakened on Thursday, pressured by increased oil flows through the Strait of Hormuz.
PLATTS WINDOW
• Indications are free on board unless marked as cost, insurance and freight or delivered at place.
One cargo traded, a trade source said.
U.S. Vice President JD Vance on Thursday said 12.5 million barrels of oil flowed through the Strait of Hormuz after the U.S. and Iran signed their deal to end their war.
WTI Midland: Petraco bought a July 17-21 cargo from Repsol at dated Brent plus $1.95 CIF Rotterdam, down from Wednesday's indications. This equated to around dated Brent plus 80 cents, according to Reuters calculations.
WTI Midland: Total bid for July 6-10 at dated Brent plus $1.60 CIF Rotterdam.
Forties: BP offered a July 13-15 cargo at dated Brent plus 35 cents FOB Hound Point.
Brent/Ninian: BP offered a July 15-17 cargo at dated Brent plus 55 cents FOB Sullom Voe.
(Reporting by Alex Lawler; Editing by Joyjeet Das)