North sea crudes under pressure

摘要

Weak demand for prompt-loading North Sea crude saw a number of grades weaken relative to North Sea Dated. Brent and Ekofsk each dropped by around 40￠/bl, while Forties traded at a seven-month low. But March-loading cargoes were expected to attract signifcant premiums to February cargoes. Light sweet BTC Blend edged 10￠/bl higher to a $2.10/bl premium to North Sea Dated, supported by improving gasoline margins. And Caspian light sour CPC Blend crept lower to a 35￠/bl premium to the benchmark. CPC Blend exports will reach 1.24mn b/d in February - down by 10pc from preliminary programmes.