BLBG:Forties Crude Premium to Dated Brent Jumps to Three-Year High
The premium of North Sea Forties crude to Dated Brent, the benchmark for more than half of the world’s oil, rose to the highest level in more than three years, according to data compiled by Bloomberg.
Forties was $1.46 a barrel more than Dated Brent today, the most since March 18, 2008, compared with a premium of $1.05 yesterday, the data showed. The difference was at a discount of 16 cents a month ago.
There have been a series of deferrals in Forties shipments over the past two weeks. A cargo with parcel number F0915 was delayed by two days to Sept. 20 to Sept. 22, according to a revised loading program obtained by Bloomberg News. This came after four lots F0901, F0902, F0906 and F0907 were postponed by two to five days.
Forties is one of four North Sea crude grades used to price Dated Brent. The other blends are Brent, Ekofisk and Oseberg.
To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net
To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net
