International crude: NS demand good,Forties lifts BFO diff

摘要

Bidding for Forties cargoes pushed up the Dated BFO differential Wednesday as demand remained good across the North Sea complex.Shell bid for a March 2-9 Forties cargo up to April cash BFO minus 80 cents while Phibro bid for a cargo in March 10-15 dates to April cash BFO minus 90 cents.Shell also bid for a Brent cargo loading March 7-15 to April cash BFO minus 80 cents.None of the bids met any interest from sellers.When normalized to mid-window,the Forties indications reflect a differential of minus 9.5 cents versus forward dated Brent,a climb of 18 cents on the day.