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North Sea Crude-Sverdrup trades lower, Forties eases

Monday, 05 February 2024 | 01:00

North Sea Johan Sverdrup crude traded lower on Friday while Forties differentials eased slightly.

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Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).

Johan Sverdrup: Total bought from Equinor a Feb. 25-29 cargo at dated Brent plus 55 cents CIF Rotterdam, down from an offer at plus $1.20 on Thursday.

Johan Sverdrup is not one of the grades that feeds into the dated Brent benchmark.

Forties: Gunvor offered Feb. 23-25 at dated Brent plus $1.88, implying a mid-point of dated plus $1.83 or 2 cents below the last reported deal.

WTI Midland remained the lowest-priced grade underpinning the dated Brent benchmark on Friday, worth around dated plus $1.79.
Source: Reuters (Reporting by Alex Lawler, Editing by Louise Heavens)

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