Morgan Stanley bought North Sea Forties crude from Vitol Group at a higher price. Gunvor Group Ltd. sold one cargo of Russian Urals in northwest Europe and one in the Mediterranean.
CPC Corp., a Taiwan state-run oil company, bought 6 million barrels of Angolan Cabinda, Nemba and Palanca crude for loading in April via a tender, according to two traders who participate in the market.
Vitol sold a Forties cargo for loading on March 15 to March 17 to Morgan Stanley at 95 cents a barrel more than Dated Brent, while BP Plc sold one shipment for March 6 to March 8 to Royal Dutch Shell Plc at a premium of 56 cents, according to a Bloomberg survey of traders and brokers monitoring the Platts trading window. Yesterday BP bought a consignment at 60 cents above the benchmark.
Reported North Sea trading typically occurs during the Platts window, which ends at 4:30 p.m. London time. Before the session, Forties loading in 10 to 25 days was 63 cents a barrel more than Dated Brent, up from 59 cents yesterday, according to data compiled by Bloomberg.
Brent for April settlement traded at $123.26 a barrel on the London-based ICE Futures Europe exchange at the close of the window, up from $122.83 yesterday. The May contract was at $122.14, a discount of $1.12 to April.
Gunvor sold 100,000 metric tons of Urals for March 8 to March 12 delivery to Rotterdam to Glencore International Plc at 85 cents a barrel less than Dated Brent, and 80,000 tons for delivery in the same period to Augusta, Italy, to Eni SpA at a discount of 95 cents a barrel, the survey showed.
BP sold 100,000 tons of Urals for March 15 to March 19 delivery to Rotterdam to Shell at 55 cents a barrel less than Dated Brent, according to the survey. The grade was offered at the same discount yesterday in the region.
Urals was at 55 cents a barrel less than Dated Brent in northwest Europe, the lowest since Jan. 24, compared with a discount of 20 cents yesterday, according to data compiled by Bloomberg.
Nigeria, Africa’s largest oil producer, plans to increase daily exports of Brass River crude in April by 21 percent, according to a loading program obtained by Bloomberg News.
The country will ship five cargoes totaling 131,667 barrels a day of the blend, compared with 108,871 barrels for March, the plan shows.
Nigeria will also export one 700,000 barrel cargo of Abo crude and one shipment of 900,000 barrels of Okono, according to a separate plan.
Bharat Petroleum Corp., India’s second-largest state-run oil refiner, issued a tender seeking to buy crude oil for loading from April 1 to April 15, according to a document obtained by Bloomberg News. The contract will be awarded on Feb. 29.
Indian Oil Corp. bought 1 million barrels each of Nigerian Qua Iboe and Escravos crudes from Trafigura Beheer BV for loading in April via a third tender, two traders who participate in the market said.
It also purchased 586,000 barrels of Egyptian Ras Gharib crude for loading in April from the same seller, according to the people, who declined to be identified because they aren’t authorized to speak on the matter.
Indonesia’s state-owned PT Pertamina issued a tender to buy Nigeria’s Qua Iboe, Bonny Light and Escravos grades for May to July delivery, a document obtained by Bloomberg News showed.
Pertamina also issued a spot tender to buy low-sulfur crude oil for May delivery, according to a second document obtained by Bloomberg. Both tenders are scheduled to be awarded tomorrow.
Qua Iboe crude was at $2.61 a barrel more than Dated Brent, down from $2.63 yesterday, data compiled by Bloomberg showed.