06 February 2025: 16:30 GMT
On Tuesday, Glencore grabbed a Midland cargo from Gunvor in the window. Now, it’s trying to get its hands on another – for almost exactly the same dates! Equinor and Gunvor were happy to offer again. But then Glencore packed up and went home as the market closed in and Equinor lowered its offers threateningly close. Fortunately for the Norwegians, PetroIneos swept in and lifted its offer for 23-27 Feb at Dated +$0.80. Midland has really been the hot commodity this week. It’s dominated the North Sea window. We suppose a lack of competitiveness for Chinese buyers will have it bleeding out into the market somewhere…
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