North Sea Crude-Forties rises to highest since Jan on tighter supply

LONDON: North Sea Forties crude differentials rose on Tuesday, supported by tighter supplies following a period of lower-than-expected production, and higher bidding from BP.

The flow through the Forties pipeline was restored to normal levels after an outage last week restricted volumes, system operator BP said on Monday.

"Most fields are nearly back to full rates now," said a trading source, although there was "still the possibility" that the loading dates of more Forties cargoes could be delayed.

Lower-than-expected production has already prompted the deferral of two cargoes from the February programme into March, trade sources say, while the loading of some March cargoes has also been pushed back.