Friday, November 17, 2017

Oil purchasers favor Angolan crude oil producers for two days

Oil purchasers in the North Sea Forties made no bids for Ural-area crude oil for two consecutive days, favoring Angolan producers.

Surgutneftgas, however, was able to sell 100,000 metric tons of Ural crude to Glencore Xstrata, for shipment on Aug. 4, Bloomberg reports.

Meanwhile, no bids were made for Brent, Osenberg or Ekofisk on the North Sea. Currently, Brent plans to trade barrels for $108.55 per barrel on the Ice Futures window during the month of September. Brent also plans lower its prices for the month of October, forecasting a cost of $107.83 per barrel for the month.

In the Platts window, Eni sold two cargoes to Brent at a premium rate of $0.65 per barrel, according to Bloomberg.

In the West African trade, Exxon Mobil made an offer to Angolan Girassol for a September cargo at $1.20 per barrel more than Brent's offer on the spot market. Chevron's offer to Kuito came in at $2.50 per barrel less than Brent's offer, for a late-September cargo on the spot market.