LONDON: North Sea crude oil differentials held broadly steady on Monday, although Ekofisk was bid higher, as an outage on a major US products pipeline lent support to lighter, sweeter grades.
An outage on a key US pipeline operated by Colonial Pipeline Co late last week has pushed up retail gasoline prices and opened up an opportunity for other Atlantic Basin exporters to send both crude and products west.
In flows, Reuters shipping data showed at least two more vessels had been booked to carry North Sea crude across the Atlantic this month. Petroineos has booked the Ridgebury Alice to carry Brent, while US refiner PES has booked the Skamandros to take a Norwegian crude to its refinery in Philadelphia.
Glencore's shipping arm has booked the VLCC Maran Cleo to take Forties to South Korea at the end of this month.
WINDOW SUMMARY
Vitol offered a cargo of Forties for loading Oct. 8-10 at 40 cents above the dated price.
Petroineos bid for a cargo of Forties for loading Oct. 8-14 at 25 cents above the dated Brent price.
Petroineos bid for a cargo of Forties for loading Oct. 16-21 at 25 cents above the dated price.
Shell bid for Forties for loading Oct. 9-11 at 25 cents above dated Brent.
Shell bid for a cargo of Forties for loading Oct. 16-18 at 25 cents above the dated price.
Glencore bid for a cargo of Ekofisk for loading Oct. 5-11 at a premium of 55 cents to dated Brent.
Shell withdrew a bid for a cargo of Brent for loading Oct. 10-12 at 10 cents above the dated benchmark price.
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