North Sea Crude-WTI steady, Forties rises
U.S. WTI crude differentials were steady on Friday while North Sea Forties was bid higher.
Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).
WTI Midland: Mercuria bought from Vitol a Dec. 9-13 CIF Rotterdam cargo at dated Brent plus $1.90.
WTI Midland: Phillips 66 sold to Trafigura Nov. 29-Dec. 3 at dated plus $2.50.
The average of dated plus $2.20 is the same as Thursday’s pricing indications and equates to dated Brent plus 81 cents, according to Reuters calculations.
Forties: Mercuria bid for Dec. 7-15 at dated Brent plus $2.35, up from a deal on Thursday.
Source: Reuters (Reporting by Alex Lawler, Editing by Kirsten Donovan)