North Sea crude differentials rose slightly on Friday as Mercuria bid at firmer levels for Brent and Forties. In the window, Mercuria bid for a cargo of Brent or Forties for June 22-24 at July plus 45 cents. This bid was roughly equivalent to dated BFO plus 80 cents, up 10 cents from the previous session.
Traders said values remained quite strong. Exxon was heard offering a cargo of Oseberg for June 22-24 at dated BFO plus $2.25 to $2.50, traders said. Conoco was said to be the buyer, but the details were not confirmed.
Vitol was reported to have sold an Oseberg cargo for June 25-27 at around similar levels to Total, but again details were not confirmed, traders said. They also noted reports of a cross-month cargo of Oseberg offered at dated plus $3.00.
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