Tightness boosts prices

摘要

Atlantic basin benchmark crude North Sea Dated rose by $5.35/bl to $49.77/bl, while US crude marker WTI rose by $4.73/bl to $48.22/bl. The North Sea market tightened as the amount of crude being held in floating storage fell to less than 4mn bl from more than 10mn bl in recent weeks. Two 2mn bl VLCCs carrying light Forties crude departed for the Rotterdam market, after waiting offshore the UK for several weeks. Forties’ discount to North Sea Dated subsequently halved to 15￠/bl, after Shell bid at a 5￠/bl discount for a mid-September loading cargo.