Forties steady at lowest since May 2020

Forties steady at lowest since May 2020

North Sea Forties crude differentials were steady on Wednesday at their lowest since May 2020, with a higher offer in the Platts window not drawing any bids.

* Forties was assessed at dated Brent minus 95 cents on Monday, the lowest since May 2020 based on Refinitiv Eikon data.

* The October loading programme for Forties is expected to be issued on Tuesday, a trade source said.


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

* There were no deals, another trade source said.

* Forties: Gunvor offered a CIF Rotterdam cargo for Sept. 5-9 at dated Brent plus $1.50, roughly equal to dated Brent plus 10 cents on an FOB basis according to Reuters calculations.