Market Update
December began with a buying spree in the Platts window, with Total and Trafigura buying a total of seven cargoes – the most recorded in the window for years. Total bought cargoes of WTI Midland, Oseberg, Forties and Brent while also placing a bid for Ekofisk. Trafigura was seen buying WTI Midland Brent. Key sellers in 02 Dec’s window were Gunvor and Equinor, the latter also selling Johan Sverdrup to BP for 14-26 Dec. The North Sea physical differential declined to $0.975/bbl on 29 Nov, the first time it fell below $1 in November, and softened below $0.90/bbl on 02 Dec.
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