Markets

North Sea Crude-Forties slips as traders offer late-Dec cargoes

Published December 18, 2017 Updated December 18, 2017 11:20pm

The Forties Pipeline has been closed since Dec. 11 after operator Ineos said it had discovered a crack in its onshore infrastructure. Ineos said on Monday it still expects any repair work to take two to four weeks to complete.

Trade sources said last week Forties cargo loading dates had been delayed by at least two weeks, but trading house Gunvor offered two cargoes for loading from Dec. 31.

Physical barrels of Forties eased to their lowest in almost a month, as traders priced in the return of the halted supply.

 

Copyright Reuters, 2017