North Sea Forties crude rose on Friday after a deal, while WTI Midland weakened after two cargoes traded in an usually active end to the week’s window trading.
PLATTS WINDOW
* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).
* WTI Midland: Glencore sold to Chevron Aug. 7-11 CIF Rotterdam at dated plus $2.00 and Unipec sold Aug. 1-5 to Equinor at dated plus $1.65.
* WTI Midland: The average of the two deals was equal to about dated plus 92 cents on an FOB basis according to Reuters calculations, down from the last known deal reported on Tuesday.
* Forties: BP sold to Equinor Aug. 14-16 at dated plus $1.15, up 20 cents from the last assessment.
* As a result, WTI Midland becomes the cheapest grade in the dated Brent basket and therefore sets the benchmark.
Source: Reuters (Reporting by Alex Lawler, Editing by Louise Heavens)