Latin America draws Forties

摘要

Firmer Latin American crude prices relative to grades that price off Atlantic basin marker North Sea Dated are opening the arbitrage to the region. At least one cargo of light North Sea Forties is scheduled to move to the Americas in October, with Total shipping a lmn bl cargo to Chile. Westward shipments of Forties became expensive in August and September, but look set to become better value in October (see upper graph).