North Sea Crude-Forties falls on deal and offers

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 14 (Reuters) - North Sea Forties crude oil differentials fell back into negative territory on Tuesday to reflect a deal and lower offers from Shell.
* Crude oil exports and transit from Russia's Black Sea port of Novorossiisk were suspended on Feb. 14 because of a storm while CPC Blend loadings via the neighbouring terminal operated by the Caspian Pipeline Consortium (CPC) continue, two sources said on Tuesday.
* Seaborne supplies of Urals crude bound for China in January rose to about 230,000 barrels per day (bpd), the highest since June 2022, as demand for the grade from the world's largest oil importer showed early signs of a rebound, traders said and Refinitiv Eikon data showed.
* Commodity trading house Mercuria doesn't see a big impact on crude oil markets from Russia's decision to cut its oil output, its CEO told Reuters, adding the move could narrow the price discount for Russian exports. PLATTS WINDOW
* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).
* Forties: Eni sold TotalEnergies a cargo flat against dated Brent, loading Feb. 25-27.


* Forties: Shell offered a cargo CIF Rotterdam for Mar. 6-10 at dated Brent plus $1.25, equivalent to a discount of 24 cents on an FOB basis, Reuters calculations show.


* Forties: Shell offered a cargo at dated Brent minus 15 cents, loading Mar. 1-3.
(Reporting by Rowena Edwards Editing by David Goodman )


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