North Sea Crude ‑ Grades drop to discount to dated Brent on easing Mideast supply risks

Shell

Mon 18:24

LONDON, June 22 (Reuters) - Differentials for U.S. WTI Midland crude and North Sea Forties fell on Monday, as easing Middle East tensions raised expectations of a recovery in supplies from the region.
PLATTS WINDOW
Indications are free on board unless marked as cost, insurance and freight or delivered at place.
* Three cargoes traded
WTI Midland: Trafigura bought a July 15-19 cargo from Chevron at dated Brent plus $1.10 CIF Rotterdam, while Moeve bought a July 18-22 cargo from Vitol at the same level.
The deals equated to around a 6-cent discount to dated Brent on a free-on-board basis, according to Reuters calculations.
ExxonMobil offered a July 21-25 cargo at dated Brent plus $1.70 CIF Rotterdam.
Forties: Glencore bought a July 13-15 cargo from BP at dated Brent minus $1.00 FOB Hound Point.
Forties: Unipec offered a July 12-14 cargo at dated Brent minus 80 cents FOB
Brent: BP withdrew an offer for a Brent/Ninian July 15-17 cargo at dated minus 80 cents.

 (Reporting by Alex Lawler; Editing by Tomasz Janowski)
 ((alex.lawler@tr.com))