North Sea crude grades drop as sellers lower offers
OXY•WTI Midland and North Sea crude differentials fell on Thursday as sellers lowered offers. Occidental offered a November 25-29 WTI Midland cargo at dated Brent plus $4.10 CIF Rotterdam, down from Wednesday's offer.
1. Offers fall
WTI Midland and North Sea crude differentials dropped on Thursday as sellers lowered offers. No deals were reported.
2. Cargo offers
Occidental offered a November 25-29 WTI Midland cargo at dated Brent plus $4.10 CIF Rotterdam, down from Wednesday's offer. The offer equated to about dated Brent minus 25 cents on an FOB basis. Oseberg was offered at dated Brent plus $6.70 for November 8-10, and Brent at dated Brent plus $2.85 for November 24-26.
