21 March 2025: 16:30 GMT
The same faces rolled into the North Sea window again! Exxon and Shell have been playing ‘will they won’t they’ for several sessions and finally they got down to it! Exxon lifted Shell’s offer for a 2-4 Apr FOB Forties at Dated +$0.25, whereupon Shell immediately withdrew its other Forties offering. Again, Exxon wasn’t picky about the freight situation and was also bidding for a CIF Forties, which Shell was happy to offer too. Shell also tried to tempt the Americans with a Midland, but Exxon knew what it wanted today and only pursued the Forties.
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