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North Sea Crude-Forties rises, Brent weakens

ReutersJan 2, 2025 5:48 PM

- North Sea Forties crude differentials rose on Thursday after a deal, while Brent was offered lower without finding a buyer.

PLATTS WINDOW

* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).

* Two cargoes traded.

* Forties: Gunvor bought from BP CIF Rotterdam Jan. 24-28 at dated Brent plus $1.25. Gunvor also withdrew an offer of a Jan. 14-18 cargo at dated Brent plus 85 cents.

* Johan Sverdrup: Equinor sold to Total, Jan. 13-15, dated Brent minus 80 cents. Sverdrup is not one of the crudes that can set dated Brent's value.

* Forties: the average of the Forties deal and offer of dated Brent plus $1 on a CIF basis is equal to about dated Brent minus 10 cents on an FOB basis according to Reuters calculations, up from Forties' value on New Year's Eve.

* Brent: BP withdrew an offer for Jan. 22-24 at dated Brent plus 25 cents, sharply below the last assessment.

(Reporting by Alex Lawler; editing by Jason Neely)

((alex.lawler@thomsonreuters.com))

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NORTH SEA CRUDE OIL DIFFERENTIALS AND OUTRIGHT PRICES: 
                    0#BFO-DIF     0#C-E 
Dated BFO       BFO- 
Brent           BFO-BRT       BFO-E 
Forties         BFO-FOT       FOT-E 
Oseberg         BFO-OSE       OSE-E 
Ekofisk         BFO-EKO       EKO-E 
 Monthly North Sea crude loading programmes     O/LOAD 
 OPEC OPEC                NSEA  North Sea 
 CRU  crude oil           PROD  oil products 
 DRV  derivatives         PRO/E European products 
  OILOIL  NYMOIL, IPEOIL, OILSPD, OILARB 
CRDWLDPRODEUR, PRODUS, APROD 
ENERGY energy speed guide   CRUDE/1 crude speed guide
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