off-the-wire

North Sea Crude-Forties slumps as sellers offer cheaper cargoes

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, May 3 (Reuters) - North Sea Forties crude oil differentials fell to a one-month low on Thursday as Vitol and Shell offered cargoes more cheaply while BP re-offered a cargo of U.S. WTI Midland crude at unchanged conditions from the previous session.


* Texas crude is set to assume a key role in the world's most important benchmark - Brent - as oil-index publisher S&P Global Platts adds U.S. WTI Midland crude to its dated Brent oil price assessment for June deliveries.



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 deals.
* WTI Midland: Vitol bids CIF Rotterdam at dated Brent plus $1.00 June 1-5.
* WTI Midland: BP offers CIF Rotterdam at dated Brent plus $1.45 loading June 1-5.
* Forties: Vitol offers at dated Brent plus 50 cents loading May 25-27.
* Forties: Shell offers at dated Brent plus 75 cents loading June 3-5.
* Ekofisk: Vitol offers at dated Brent plus $2.90 loading May 28-30. (Reporting by Shadia Nasralla;Editing by Elaine Hardcastle)

Reuters Messaging: shadia.nasralla.reuters.com@reuters.net))

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