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S.Korea's GS Caltex buys North Sea Forties crude for January arrival

reuters.com

SEOUL, Oct 21 (Reuters) - South Korea's GS Caltex Corp has bought a cargo of Forties crude oil from Europe's North Sea, a spokesman said on Friday, indicating that the arbitrage window for crude from the United Kingdom to Asia has opened.

GS Caltex, equally owned by Chevron Corp and GS Energy, purchased 2 million barrels of Forties for January arrival, the company spokesman said without giving further details.

In September, the company, South Korea's second-largest refiner, made its first purchase of 1 million barrels of U.S. Eagle Ford crude for November arrival. (Reporting By Jane Chung; Editing by Christian Schmollinger)

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