North Sea Crude-Diffs hold; cargoes line up for Atlantic crossings

LONDON: North Sea crude differentials held unchanged on Thursday after traders reported no deals had taken place in the daily trading window.

Traders said Total had been actively bidding the front end of the swaps curve, which pushed the structure into backwardation, but the refiner did not buy any cargoes.

Shipping data this week shows at least 5.5 million barrels of North Sea crude will head to the east coast of the United States over the coming weeks.

Statoil has booked three suezmaxes to carry Norwegian crude, while Suncor has booked an aframax to take Flotta to the United States and preliminary shipping lists show Total has booked the Petrovsk, an aframax, to take an as yet unspecified crude across the Atlantic.