Govt to review steep petrol hike
India's coalition government opened the way for a partial rollback of the steepest petrol hike in the country's history after two days of street protests and dissent from within its own ranks over the unpopular measure. Full Article
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NSea Crude-Slightly stronger as supplies tighten
* Forties reported firmer; offered at dtd minus 15; no deals
* Norwegian offers steady
LONDON, July 24 (Reuters) - North Sea Forties crude oil differentials were little changed on Friday with no deals in the afternoon trading window but anecdotal evidence that the market may be tightening.
No Forties crude oil was offered from floating storage again as the contango for prompt oil stayed wide enough to pay for cash and carry trade and traders said some majors were using wider spreads to roll forward positions.
Maintenance work on the Buzzard oilfield will more than halve the volume of Forties loading in August and the removal of the sour stream will sweeten Forties from Aug. 15 to Sept. 12, traders say. [NSEA/AM] [O/LOAD]
FORTIES FOT-E
* In the trading window, Total offered an Aug. 7-9 Forties cargo at dated minus 15 cents, compared with an offer of an Aug. 5-7 cargo at minus 30 cents on Thursday.
* No bids were shown for Forties.
NORWEGIAN OFFERS
* Norwegian state-controlled oil company StatoilHydro kept its offer levels largely unchanged (previous day in brackets).
- Oseberg cross-month dated plus 85 cents (later dates but unchanged from 85 cents for Aug. 26 reported sold)
- Statfjord Aug. 24 at dated plus 75 cents (plus 75 cents)
- Gullfaks for Aug. 26 at dated plus $1.35 ($1.35)
- Troll for Aug. 26 at dated plus $2.20 (plus $2.10 for Aug. 19)
- Glitne for Aug. 24 cif dated plus 30 cif (plus 50 cents)
- Nord for Aug. 27 "available" (unchanged)
- Grane Aug. 27 dated minus 80 cents (new)
- Heidrun Aug/Sep as "available"
REFINING MARGINS <REF/MARGIN1>
* Complex margins for Brent cracking in Rotterdam were around $2.80 on Friday, up about 30 cents from Thursday and close to the average for the last five days, Reuters refining models showed.
ICE MINUTE MARKER
* The ICE set its September Brent afternoon one-minute marker at $69.73 per barrel, up from $68.90 on Thursday. (Reporting by Christopher Johnson; editing by William Hardy)
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