North Sea Crude-WTI Midland differentials rise

Reuters
2025/06/05
North Sea Crude-WTI Midland differentials rise

LONDON, June 4 (Reuters) - U.S. WTI Midland crude differentials gained on Wednesday, while North Sea Forties crude differentials were steady.

PLATTS WINDOW

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

* There were three trades on Wednesday.

* WTI Midland: TotalEnergies bought a cargo from Shell CIF Rotterdam for June 19-23 at dated Brent plus $1.60. TotalEnergies bought from Phillips 66 CIF Rotterdam for June 22-26 at dated Brent plus $1.70. TotalEnergies also bought from Vitol CIF Rotterdam for June 28 - July 2 at dated Brent plus $1.85. Meanwhile, Mercuria bid for a cargo at dated Brent plus $1.75, while Moeve (formerly Cepsa) bid for two cargoes at dated Brent plus $1.90.

The midpoint of the three trades and three bids at $1.78 equalled dated Brent plus 74 cents FOB, up from 51 cents on Tuesday, according to Reuters calculations.

* Forties: TotalEnergies bid June 28-30 at dated Brent plus $1 FOB Hound Point, while Mercuria bid June 17-24 at dated Brent plus 90 cents FOB Hound Point, steady from Tuesday's assessment.

* Johan Sverdrup: TotalEnergies bid June 28 - July 2 at dated Brent plus $2.50 FOB Mongstad.

(Reporting by Enes Tunagur. Editing by Alan Barona)

((Enes.Tunagur@thomsonreuters.com))

NORTH SEA CRUDE OIL DIFFERENTIALS AND OUTRIGHT PRICES: 
                    0#BFO-DIF     0#C-E 
Dated BFO       BFO- 
Brent           BFO-BRT       BFO-E 
Forties         BFO-FOT       FOT-E 
Oseberg         BFO-OSE       OSE-E 
Ekofisk         BFO-EKO       EKO-E 
 Monthly North Sea crude loading programmes     O/LOAD 
 OPEC OPEC                NSEA  North Sea 
 CRU  crude oil           PROD  oil products 
 DRV  derivatives         PRO/E European products 
  OILOIL  NYMOIL, IPEOIL, OILSPD, OILARB 
CRDWLDPRODEUR, PRODUS, APROD 
ENERGY energy speed guide   CRUDE/1 crude speed guide

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