International crude:North Sea markers take it on the chin

摘要

Dated BFOE lost over 1.30 Wednesday in line with a weaker futures complex,in spite of stronger differentials and front-end CFDs.During the Market on Close assessment process,Shell continued to bid for the July 7-9 Brent,showing Dated Brent plus 90 cents,but the bid saw no selling interest.August cash BFOE meanwhile fell 1.63 largely in reaction to a record build in US crude stocks,pinning back stronger differentials and the Dated paper structure.As a result the Dated BFOE flat price fell 1,335 to 71,705.