North Sea Crude-WTI Midland again falls on lower offer, no demand
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LONDON, July 2 (Reuters) -WTI Midland crude differentials weakened further on Tuesday after a lower offer and a lack of demand, while there were no indications on North Sea benchmark grades.
* Trading houses Trafigura and Gunvor had bought nine cargoes of crude that underpin the Brent benchmark between June 21 and June 28 and bid for more.
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* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).
* WTI Midland: Glencore offered CIF Rotterdam July 23-27 at dated Brent plus $1.80, down 15 cents from an offer on Monday.
* The offer equated to around dated plus 76 cents on a FOB basis, according to Reuters calculations, slightly cheaper than Thursday's value.
* Three other sellers - Socar, Exxon and Reliance - also offered WTI cargoes at higher differentials.
* No indications on North Sea benchmark grades, a trade source said.
Reporting by Alex Lawler, Editing by David Evans
NORTH SEA CRUDE OIL DIFFERENTIALS AND OUTRIGHT PRICES: 0#BFO-DIF 0#C-E Dated BFO BFO- Brent BFO-BRT BFO-E Forties BFO-FOT FOT-E Oseberg BFO-OSE OSE-E Ekofisk BFO-EKO EKO-E Monthly North Sea crude loading programmes O/LOAD OPEC OPEC NSEA North Sea CRU crude oil PROD oil products DRV derivatives PRO/E European products OILOIL NYMOIL, IPEOIL, OILSPD, OILARB CRDWLDPRODEUR, PRODUS, APROD ENERGY energy speed guide CRUDE/1 crude speed guide
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