LONDON: Forties crude differentials remained at a discount to benchmark dated Brent on Monday as ample prompt supplies weighed on the market.
A strike at French oil refineries has weighed on crude demand in northwest Europe, although preliminary operations were underway on Monday to restart three of Total's plants in the country.
"There is some length in the market," a North Sea trader said. "But the Nigerian outages should be supportive of the North Sea."
TANKER FIXTURES
Two VLCCs - Athina and Maran Thetis - that have loaded Forties cargoes are still in the vicinity of Hound Point, according to Reuters shipping data. Another supertanker, Victory I, is en route to Singapore.
WINDOW SUMMARY
Forties: Petroineos bid for a cargo loading on June 18-22 at dated Brent minus 25 cents, while Vitol offered a June 30-July 2 cargo at dated minus 10 cents.
Forties is therefore up from the last deal, which was done on Friday at dated minus 40 cents.
Ekofisk: Vitol offered a July 1-3 cargo at dated plus 70 cents, down from the last Reuters assessment of dated plus $1.30.
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