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North Sea Crude-Prompt Forties dip further
May 30, 2012 / 5:48 PM / 6 years ago

North Sea Crude-Prompt Forties dip further

LONDON, May 30 (Reuters) - Differentials on Forties were
mixed on Wednesday, with sellers focusing on relatively prompt
loading cargoes while a sole bid was placed at a strong level
for a cargo with a later loading date.	
    "Offers are indeed very prompt," a trader said, adding
immediate demand remained slow.	
    The bidder was Statoil. Earlier this week, it bought Forties
for the first time since February, when it bought a mid-March
loading cargo. The intention of the purchase and the bid were
not clear.	
    * Offers included: Shell at dated Brent plus 10 cents a
barrel for June 11-13; BP at dated minus 15 cents for June 13-15
and Trafigura at dated plus 15 cents for June 15-17.	
    * These levels were marginally lower than Tuesday's offers
at dated plus party to the benchmark plus 26 cents,	
    * Statoil placed a bid for a cargo for June 23-26 loading at
dated plus 35 cents a barrel. The level was 20 cents higher than
its previous purchase.	
    * Traders said several cargoes of Alvheim for the second
half of June loading have been sold since late last week.	
    * Other deals remained thin ahead of the release of July
loading programmes.	
    * Contracts for differences (CFDs) were little changed
across the curve in backwardation.	
     6-8/6  Aug  +60 (+60) 	
    11-15/6 Aug  +28 (+27) 	
    18-22/6 Aug  +18 (+15) 	
    25-29/6 Aug   +8  (+6) 	
     2-6/7  Aug   -2  (-3)	
    0-13/7  Aug  -11 (-12)	
    For a database of oil supply and demand fundamentals
upstream and downstream, Reuters subscribers can click here	
 (Reporting by Ikuko Kurahone; editing by Keiron Henderson)

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