North Sea Crude-Forties gains on tighter supplies

LONDON: Forties differentials rose due to the highest since early June on stronger demand and signs of tighter September supplies.

One cargo of Forties loading in September, F0911, has been dropped from the loading programme after issues with the Kinneil processing plant limited flows, trade sources said.

That reduces September loadings to 17 cargoes.

There are signs that a build-up of Forties held on VLCCs off the UK coast is easing, potentially helping to support differentials.

Two such vessels, Gener8 Ulysses and Orthis, have left for Rotterdam in recent days, according to shipping data.

In a sign of a stronger market, the contango between the first- and second-month Brent futures contracts has narrowed.