North Sea crude-WTI trades lower after slide in offers
USO•WTI Midland crude differentials in Europe fell sharply on Tuesday; the lower of two reported deals was about dated Brent plus $4.50 on an FOB basis, down from $7.90 on Friday.
1. WTI Midland deals
Trafigura bought a November 15-19 WTI Midland cargo from BP at dated Brent plus $8.90 on a CIF Rotterdam basis, a market source said. Another deal was at plus $9.40; the lower deal equated to about plus $4.50 on an FOB basis, compared with plus $7.90 on Friday.
