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North Sea Crude-Ekofisk slips, others steady

Monday, 16 September 2024 | 00:00

North Sea Ekofisk crude slipped on Friday, while other regional grades and U.S. WTI Midland were steady after a lack of pricing indications.

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, a trade source said.

Ekofisk: Shell offered Oct. 2-4 at dated Brent plus $2.45, the same as an offer on Thursday. With no higher bid seen, unlike on Thursday, the Ekofisk assessment is down slightly.

Ekofisk: Allowing for the Platts quality premium for October, the offer is equal to dated Brent plus $1.48 for dated Brent purposes, according to Reuters calculations.

Forties: No pricing indications. Last valued at dated Brent plus $1.20.

WTI Midland: No pricing indications. Last valued at dated Brent plus $2.30 CIF Rotterdam, or around dated plus $1.43 on a FOB basis according to Reuters calculations.

Forties, therefore, stays as the cheapest grade underpinning the benchmark.
Source: Reuters (Reporting by Alex Lawler, Editing by Susan Fenton and Tasim Zahid)

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