The North Sea physical differential strengthened above $0.80/bbl last week but has since petered out, dropping to $0.69/bbl on 20 Jan. 20 Jan also saw five offers for WTI Midland in the window from Eni, Unipec, Shell and two offers from Gunvor, who interestingly was buying cargoes before this. We saw no bids in the window for the first time since 3 Jan.
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