03 January 2025: 16:30 GMT
Europe slipped back below $76 in its morning trading, shedding some of the gains it made yesterday. By lunchtime, we were looking at the mid-$75 range. Then, the Americans gave Brent a leg-up and put us back onto a $76 handle before 13:45 GMT, recovering the slide to finish at $76.33/bbl. Over in the window, Gunvor was back for another round of North Sea fun, offering a Forties CIF cargo for 15-19 Jan. Its best offer was Dated +$1 but that didn’t get any attention, so withdrew. Its other Forties offer, 19-23 Jan, came to Dated +$1.40 but likewise didn’t get a nibble. BP also offered Forties CIF 18-22 Jan and withdrew it at $1.50 over Dated. The sellers have been left out in the cold for the time being.
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