Will Cunliffe
Research Analyst, The Officials
A North Sea special!
The North Sea goes berserk, is Europe's jet situation not as bad as first feared?
The North Sea goes berserk, is Europe's jet situation not as bad as first feared?
What a window! Shell, Vitol, Exxon, Mercuria… all bounded in early on, bidding across grades and dates, while only Glencore and BP offered Midland. The list was endless – see the full breakdown on page 3! In brief, between them, Vitol and Shell bid the full breadth of BFOETM grades, while Mercuria threw in a bid for Midland and Exxon bid for Midland and Ekofisk. Shell lifted Glencore’s 2-6 June offer at Dated +$3.45, Glencore hit Vitol’s 6-10 June bid at Dated +$3.95, Phillips hit Shell’s 9-13 June bid at Dated +$3.85 and Vitol lifted Glencore’s 13-17 June offer at $4.20 over Dated.
The Officials publish outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which are published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST). For any comments, please reach out to us through the emails provided in the signed documents.