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Refiners, ship owners profit from North Sea crude glut as sellers struggle

June 17, 2015 (4:26 mins)

Platts Many North Sea crude oil cargoes are floating stationary off the UK coast, having missed their natural demand window, and have been sold into further forward demand. Why is this happening, what does it mean for European refiners, and how is it connected to the West African crude market? Platts managing editor for crude oil Robert Beaman, along with editors Ned Molloy and Gillian Carr, investigate.

The following Platts assessments were discussed in this podcast:
Price Date
Dated Brent $61.465/b 06/16/2015
Forties FOB North Sea $61.515/b 06/16/2015
Qua Iboe FOB Nigeria vs WAF Dtd Strip $0.35/b 06/16/2015
Dirty UKC-UKC 80kt $10.24/mt 06/16/2015

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