LONDON: North Sea Forties and Brent differentials rose, supported by tighter June supply and Nigerian outages, although offers of Forties from floating storage limited the rise.
Ekofisk weakened slightly as Glencore, which traders said had amassed a big June BFOE position, sold two cargoes, while Oseberg was unchanged.
WINDOW SUMMARY
Forties: Total offered a number of cargoes from floating storage including a May 26-31 cargo on a ship-to-ship transfer basis from the Maran Thetis at July cash BFOE minus 70 cents, equal to roughly dated Brent parity.
Petroineos bid for Forties loading on May 27-June 5 at dated Brent plus 55 cents.
The two indications valued Forties at dated plus 30 cents, up from about dated Brent plus 25 cents on Friday.
Brent: The grade was valued at dated Brent plus 35 cents, higher than the last Reuters assessment.
Ekofisk: Glencore sold cargoes loading on June 1-5 and May 31-June 2 at dated Brent plus $1.05 and plus 90 cents respectively, slightly lower than Friday's assessment.
Oseberg: Was offered at dated Brent plus $1.30, in line with the last price assessment.
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