North Sea Forties crude differentials were stable on Friday as sellers were again looking to offload cargoes in the Platts window, albeit at slightly higher levels than in the previous session.
PLATTS WINDOW
* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).
* No deals on Friday, a trade source said.
* There were three withdrawn offers for Forties on Friday.
* The lowest of the offers was tabled by Gunvor, for a Jan. 15-19 cargo at dated plus $1.00 CIF Rotterdam.
* On a FOB equivalent basis, the offer equated to around dated minus 4 cents, Reuters calculations showed.
* On Thursday, Gunvor bought from BP a Jan. 24-28 cargo at dated Brent plus $1.25 CIF Rotterdam.
* Gunvor also withdrew an offer of a Jan. 14-18 cargo at dated Brent plus 85 cents CIF Rotterdam.
* The average of Thursday’s deal and offer level was around dated Brent minus 10 cents on an FOB basis according to Reuters calculations.
* Also on Thursday, Equinor sold a Johan Sverdrup cargo to Total, Jan. 13-15, dated Brent minus 80 cents. Sverdrup is not one of the crudes that can set dated Brent’s value.
Source: Reuters