North Sea Crude ‑ WTI Midland rises, Forties trades lower
Exxon Mobil XOM | 0.00 | |
Shell SHEL | 0.00 |
LONDON, May 20 (Reuters) - North Sea Forties traded lower, while WTI Midland crude differentials rose after two trades, as a flurry of activity in the Platts window this week continued on Wednesday.
PLATTS WINDOW
Indications are free on board (FOB) unless marked as cost, insurance and freight (CIF) or delivered at place.
Three cargoes traded, a market source said.
WTI Midland: Phillips 66 sold a June 9-13 cargo to Shell at dated Brent plus $3.85 CIF Rotterdam.
WTI Midland: Vitol bought a June 11-15 cargo from Chevron at dated Brent plus $4.00 CIF Rotterdam.
The midpoint of the two deals' differentials of $3.93 CIF equated to dated plus $2.47 FOB, Reuters calculations showed.
On Tuesday, WTI Midland traded three times in a range of dated plus $3.05-3.90 CIF Rotterdam.
Forties: Vitol bought a May 31-June 2 cargo from Gunvor at dated plus $1.50.
Forties: Shell bid June 7-11 at up to dated Brent plus $3.35.
On Tuesday, the highest bid for Forties was at dated plus $2.55.
Troll: Vitol bid for June 4-6 at dated plus $6.45
Oseberg: Vitol bid for June 17-19 at dated plus $5.85
Brent: Shell bid for June 5-7 at dated plus $3.55.
