LONDON: Forties differentials fell for the third day in a row on Monday, to their lowest level in a month, after being aggressively offered down in the daily trading window, in spite of several supertanker fixtures for late March and early April.
Vitol absent from the window after a two-week buying spree of BFOE crudes that traders say has now left the company with almost half of the entire April Ekofisk programme, along with a raft of cargoes of other BFOE crudes.
Troll crude oil, which rarely makes an appearance in the daily window, was offered at $1.60 above dated Brent.
Likely to be a result of maintenance work, trade sources said.
Maintenance work at the Buzzard oilfield is scheduled to start in July and last for about a month, an industry source said last week, which will cut supply of Forties.
Forties was the lowest priced crude and therefore determines the level of dated Brent.
FLOWS, NEWS, DATA
Loadings of oil from Iraqi Kurdistan at the Turkish Mediterranean port of Ceyhan, which were halted on Feb. 17, remained suspended on Monday due to bad weather, shipping agents told Reuters.
Iraq's state-run North Oil Company stopped feeding a pipeline to Turkey with crude produced at fields it operates in the Kirkuk region three days ago, two sources said on Monday.
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