The price for Forties crude was assessed at a 10-month low on March 14, trading at a 57^/bbl discount to Dated Brent. The drop was said to be the result of increased competition in the market, with plenty of Mediterranean, Russian Urals, and West African crudes said to be available. According to a European refiner, "It makes sense as Mediterranean grades were cheap and there are still cargoes available, especially for light grades. West African oil was more or less the same story. I'm not bullish [on Forties] for sure. We are seeing several alternatives from different regions. I believe that most of the market is covered for the coming weeks and.. .it's easy to find cheap barrels."
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