North Sea Crude-Diffs edge up to highest since mid July

LONDON: North Sea crude oil differentials rose on Monday, climbing for a second day, after a couple of trades materialised that provided the market with a boost ahead of upstream maintenance in September.

Brent changed hands at its highest level since mid-July, as did Forties.

According to Genscape data, the VLCC Marbat, currently chartered by Vitol, loaded at Hound Point late last week and is scheduled to sail to South Korea later this month, according to shipping sources.

Another VLCC, the Sara, was anchored off the UK coast for at least a month.

The vessel is on its way to China, according to Reuters data, but one trade source said the ship is still for orders, indicating that there is, for now, no taker for the crude aboard.