International crude:North Sea rockets higher

摘要

North Sea crude reinforced its bullish tone Tuesday as differentials for physical bbls rock eted amid keen demand,in turn dragging spreads and CFDs higher.Differentials were stronger for all the North Sea grades as buyers who previously held back stepped up to match this week's much higher offers.The extent of gains has caught many by surprise.One trader conceded,"We certainly didn't expect this kind move and it's caught a lot of people unawares." Among,Tuesday's deals,Mar 7-9 wet Brent traded at Apr plus 72 cts,(Shell-BP),traders noting the same cargo was offered Monday at Apr plus 60 cts,while the other BFO grades were also heard trading sharply higher.