Vitol Group sold a second North Sea Forties crude cargo for loading in January at the lowest price in more than a month. The trader also sold Russian Urals blend in northwest Europe at the biggest discount to Dated Brent in almost three months.
Iraq plans to cut daily crude exports from the Basrah Oil Terminal in the Persian Gulf by 8 percent in January from this month, a loading program obtained by Bloomberg News showed.
Vitol sold Forties lot F0109 for Jan. 11 to Jan. 13 loading to Royal Dutch Shell Plc at 20 cents a barrel less than Dated Brent, according to a Bloomberg survey of traders and brokers monitoring the Platts window. That’s the lowest since Nov. 4 and compares with the 5 cents premium Vitol got for a shipment yesterday.
Mercuria Energy Trading SA failed to sell Forties for Jan. 14 to Jan. 16 at 35 cents a barrel more than Dated Brent, while Statoil ASA didn’t manage to buy the blend for Jan. 16 to Jan. 20 at a premium of 20 cents, the survey showed.
Brent for February settlement traded at $111.72 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $111.53 in the previous session. The March contract was at $111.39, a discount of 33 cents to February.
Forties sulfur de-escalator for January was kept at 30 cents a barrel, unchanged from this month, Platts said in a statement on its website.
Vitol sold 100,000 metric tons of Urals for Jan. 4 to Jan. 8 loading to Total SA at $2 a barrel less than Dated Brent on a delivered basis to Rotterdam, the lowest since Sept. 26, the survey showed. Vitol yesterday offered the same cargo at a discount of $1.85.
In the Mediterranean, Vitol was unable to sell 140,000 tons of Urals for Jan. 7 to Jan. 11 at 95 cents a barrel less than Dated Brent, while Shell failed to sell a shipment of the same size for Jan. 9 to Jan. 13 at a discount of 65 cents, according to the survey.
Iraq plans to ship 42 crude cargoes totaling 64.6 million barrels, or 2.09 million barrels a day, in January, according to the loading plan. December exports were revised up to 49 lots or 2.28 million barrels a day after four consignments of 1 million barrels each were added.
OAO Surgutneftegas closed a tender to sell four Urals cargoes for loading in January, said two traders who participate in the market. The company offered 140,000 tons for Jan. 16 to Jan. 17 loading from Novorossiysk in the Black Sea, and three 100,000-ton shipments from the Baltic Sea ports, one for Jan. 22 to Jan. 23 from Primorsk, one each for Jan. 16 to Jan. 17 and Jan. 23 to Jan. 24 from Ust-Luga. The result of the tender was not available yet.
Mangalore Refinery & Petrochemicals Ltd. issued a tender to buy low-sulfur crude for March 1 to March 15 loading, a document obtained by Bloomberg News showed. Offers are due Jan. 13 at 9:30 a.m. local time, and will be valid until Jan. 15 at 8 p.m.
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