LONDON: Forties crude differentials were unchanged on Monday at a discount to dated Brent, as ample supply weighed on the market.
At least three VLCCs - Gener8 Ulysses, Maran Thetis and Orthis - holding Forties remained anchored off the UK coast. Cheap freight and a contango price structure have made floating storage more viable.
Oseberg and Brent were both offered for sale, without attracting buyers.
WINDOW SUMMARY
Unipec offered a Forties cargo loading on Aug. 28-30 at dated Brent minus 20 cents, without selling.
Forties stays valued at Friday's level of dated Brent minus 80 cents. Oseberg: Gunvor offered an Oseberg loading on Sept. 8-10 at dated plus 90 cents, about 20 cents higher than the last assessment.
Brent: Statoil offered a cargo at dated minus 10 cents, also higher than Friday's assessment.
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