off-the-wire

North Sea Crude-Johan Sverdrup offered at premium

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 16 (Reuters) - North Sea Johan Sverdrup crude was offered at a premium to dated Brent on Thursday, a high offer that traders said reflects stronger European demand for the grade.


MARCH LOADINGS
* Output in March of nine crudes tracked by Reuters will average 1.87 million barrels per day, up 1.6% from February, according to Reuters calculations based on loading programmes provided by trade sources.


PLATTS WINDOW
* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).
* No bids, offers or deals for benchmark grades, a trader said.
* Johan Sverdrup: Total offered a March 4-6 cargo at dated Brent plus 20 cents, a trader said, adding European demand for the grade was supporting its value.


* Differentials have climbed in the last few months. Sverdrup was offered at dated minus $5.15 in late November. (Reporting by Alex Lawler, Editing by Susan Fenton)

Messaging: alex.lawler.reuters.com@reuters.net))

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.