LONDON, July 4 (Reuters) - North Sea Forties crude
differentials held steady on Thursday, helped by strong Russian
Urals crude prices and continued buying interest.
Urals is at 11-month highs in the Mediterranean , which should encourage some switching by
refiners to Forties, as well as helping to underpin Forties
'Urals is so strong that Forties will have to move higher,'
a trader said. Analysts at JBC Energy noted that seaborne Urals
exports are expected to hit multi-year lows in July. Volumes are
currently estimated some 400,000 barrels-per-day (bpd) lower
Meanwhile, output from Britain's Buzzard oilfield is back up
at around 207,000 bpd following last week's maintenance , trade sources said.
Traders are currently awaiting the release of the August
loading programmes, with the Forties programme expected to
emerge on Friday.
* Shell sold a Forties cargo to Total loading July 20-22 at
dated plus 35 cents. This was in line with bids on Wednesday for
cargoes loading around July 24-29 and July 20-25.
* Gunvor also bid for Forties loading around July 26-31 at
dated Brent plus 30 cents.
* Click on for the latest contracts-for-differences.
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(Reporting by Claire Milhench; editing by David Evans)
Keywords: MARKETS EUROPE CRUDE/
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