LONDON: The differential for North Sea crude oil grades Ekofisk and Brent fell on Tuesday after Vitol bought cargoes below previous market levels, while Occidental sold a cargo of US crude to BP for Rotterdam delivery in a rare trade.
According to the Flotta August loading programme provided by trade sources, the stream will load one cargo of 600,000 barrels and one at 650,000 barrels.
PLATTS WINDOW
Ekofisk: Mercuria sold to Vitol at dated Brent plus 50 cents loading July 23-25.
Ekofisk: Total sold to Vitol at dated Brent plus 50 cents loading July 21-23. Total had offered Ekofisk cargoes at between plus 40 cents and plus $1.10 in the previous session.
Brent: Mercuria sold to Vitol at dated Brent plus 15 cents loading July 26-28.
WTI: Occidental sold a cargo of US grade WTI to BP at dated Brent plus 60 cents on a delivered basis to Rotterdam between Aug. 27-31, according to a trader.
RELATED NEWS
In February, oil pricing agency S&P Global Platts said it planned to adjust the way it calculates the price of North Sea dated Brent by reflecting cargo offers on a delivered basis, its latest move to ensure enough supply underpins the benchmark.
Platts has not included WTI into its dated Brent calculations.
Pricing agency Argus Media added US WTI crude to its new North Sea Dated assessment from Feb. 15.
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