North Sea crude-WTI offered higher, programmes emerge
OXY•US WTI Midland was offered at a higher premium on Tuesday, while November loading programmes showed North Sea crude supplies averaging about 514,000 barrels per day, up from 498,000 bpd in October.
1. November supply programmes
Loading programmes showed supplies of the five North Sea crude grades underpinning the dated Brent benchmark averaging about 514,000 barrels per day in November, up from 498,000 bpd in October.
2. WTI Midland offer
Occidental offered an Oct. 28-Nov. 1 WTI Midland cargo at a premium of dated Brent plus $18.85 a barrel on a CIF Rotterdam basis, equivalent to about dated Brent plus $15.50 on an FOB basis. No deals were reported in the Platts window on Tuesday, and buyers remained on the sidelines.
