Market Update
After coming off below $0.70/bbl on 20 Jan due to offers in the physical, the North Sea Dated Brent physical differential fell below $0.30/bbl on 23 Jan amid offers for WTI Midland and Ekofisk. The physical saw more support after this and climbed to $0.48/bbl on 27 Jan. This support emerged from Shell increasing its offer for WTI Midland in the window on 24 Jan, followed by Mercuria buying three cargoes of WTI Midland on 27 Jan.
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