09 September 2025: 16:30 BST
Dated dive bombed, this is the lowest physical differential since The Officials began Dated Brent assessments!! Brent finally cleared, with Gunvor lifting Mercuria’s discounted CIF 30 Sep-4 Oct cargo at $1.30 over Dated. Mercuria was happy with that and then withdrew its FOB 22-24 Sep Brent offer at Dated -$0.80. Meanwhile, Trafi and Exxon offered Forties for 23-25 Sep and 26-28 Sep at Dated +$0.20 and Dated -$0.20, respectively. Ekofisk was offered too, with Shell going as low as Dated +$2.30 for a CIF 1-5 Oct cargo, while Mercuria offered FOB Sep 29-1 Oct at $1.25 over Dated. The physical differential hit rock bottom at -49.5c.
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