USO•WTI Midland differentials in Europe rose on two Vitol bids, averaging $18.75 per barrel CIF Rotterdam, while BP offered Johan Sverdrup crude at dated Brent plus $14.40.
Vitol bid for WTI Midland cargoes at dated Brent plus $18.10 and $19.40 per barrel CIF Rotterdam. The bids equated to an average of plus $18.75 CIF, or $15.53 FOB; in the previous session, three cargoes traded at an average of plus $17.65 CIF, or $14.45 FOB. No deals were done on Thursday. BP offered a Johan Sverdrup cargo for Oct. 20-22 at dated Brent plus $14.40, compared with its Monday offer of plus $23.30 FOB Mongstad for an Oct. 18-20 cargo.
