BFOE stocks remain high despite lack of swaps support

摘要

London—North Sea Brent, Forties, Oseberg and Ekofisk crude volumes in floating storage remain at relatively high levels despite the absence of the type of steep contango in the BFOE Contracts for Difference (CFD) curve typically required to cover the costs of demurrage for an Aframax or VLCC. According to SP Global Platts trade flow software cFlow, there is currently around 5 million barrels of BFOE crude on stationary tankers around the North Sea, down from 6 million barrels a week ago.