North Sea Crude-Chinaoil on first public Forties sale

LONDON, June 1 (Reuters) - Spot differentials on Forties
crude oil dipped to a steeper discount on Thursday, with cargoes
with prompt loading days falling to steep discounts.
Chinaoil made the first cargo sales of North Sea crude in
the public trading window at the prompt end, pressuring the
market lower.
"I have never seen them in the (North Sea crude) window," a
trader said.
Chinaoil declined to comment.

FORTIES
* Chinaoil, or PetroIneos Trading, sold a cargo of Forties
for June 16-18 at dated Brent minus 30 cents a barrel to Vitol.
* The previous deal was done at dated benchmark plus 15
cents a barrel on Monday.
* Steep contango structure on the other physical
differentials has persisted this week and cargoes for loading
dates in later in June maintained premiums.
* BP offered a cargo for June 13-15 loading at dated
benchmark minus 40 cents while Shell offered June 18-20 at dated
plus 25 cents. Vitol bid for June 24-30 at dated plus 40 cents.

OTHER GRADES
* Some more July cargoes were offered, including Alvheim for
July 3-5, traders said.

SWAPS
* Contracts for differences (CFDs) fell at the front end of
the curve strengthened across the curve in backwardation

6-8/6 Aug +65 (+72)
11-15/6 Aug +30 (+36)
18-22/6 Aug +20 (+23)
25-29/6 Aug +10 (+11)
2-6/7 Aug flat(flat)
0-13/7 Aug -10 (-10)

DATABASE
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upstream and downstream, Reuters subscribers can click here

(Reporting by Ikuko Kurahone; editing by Keiron Henderson)