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Crude Oil Marketwire [OIL ] www.platts.com CRUDE OIL MARKETWIRE Volume 34 / Issue XX / Month DD, 2013 Key benchmarks ($/barrel) Brent/WTI spreads and EFPs Market Commentary Mid Change Mid Change (PGA page 2210) (PGA page 218) Middle East Sour (PGA page 2298) Dubai (Apr) PCAAT00 112.65–112.67 112.660 +0.280 Brent/WTI 1st AALAT00 19.15/19.17 19.170 +0.540 Dubai (May) PCAAU00 112.64–112.66 112.650 +0.250 Brent/WTI 2nd AALAU00 20.87/20.89 20.890 +0.540 May cash Dubai was assessed at $106.41/barrel Dubai (Jun) PCAAV00 112.24–112.26 112.250 +0.270 Brent/WTI 3rd AALAV00 19.48/19.5 19.500 +0.540 Monday, edging down 14 cents/b from Friday. In the MEC (Apr) AAWSA00 112.65–112.67 112.660 +0.280 Brent EFP (Mar) AAGVW00 0.12/0.14 0.140 +0.540 MEC (May) AAWSB00 112.64–112.66 112.650 +0.250 Brent EFP (Apr) AAGVX00 0.12/0.14 0.140 +0.540 cash Brent market, the May contract moved down to MEC (Jun) AAWSC00 112.24–112.26 112.250 +0.270 Brent EFP (May) AAGVY00 0.12/0.14 0.140 +0.540 $109.95/b having been assessed at $110.51/b on Brent/Dubai (Apr) AAJMS00 4.48/4.50 4.490 +0.300 (PGA page 218) Friday. While the May/June cash Dubai backwardation (PGA page 1210) WTI EFP (Mar) AAGVT00 0.00/0.01 0.010 +0.540 rose 2 cents/b to 16 cents/b, the front-month EFS Brent (Dated) PCAAS00 118.00–118.01 118.005 -0.480 WTI EFP (Apr) AAGVU00 0.00/0.01 0.010 +0.540 -- the Brent/Dubai spread -- narrowed 54 cents/b from Dated North Sea Light AAOFD00 118.00–118.01 118.005 -0.480 WTI EFP (May) AAGVV00 0.00/0.01 0.010 +0.540 Brent (Mar) PCAAP00 118.33–118.35 118.340 -0.240 Friday to $4.13/b, as concerns over the potential end Brent (Apr) PCAAQ00 117.28–117.30 117.290 -0.240 Forward Dated Brent ($/barrel) of arbitrage flows of Forties cargoes to South Korea put Brent (May) PCAAR00 116.43–116.45 116.440 -0.180 pressure on the Western crude benchmark. If arbitrage Mid Change flows of Forties ceased then the two-fold effect could Sulfur de-escalator AAUXL00 0.30 (PGA page 1250) Oseberg QP (Mar) NewCode 5.690 North Sea Dated strip AAKWH00 117.18–117.19 117.180 +0.540 be less upward pressure on the Brent complex and Oseberg QP (Apr) NewCode 6.330 Mediterranean Dated strip AALDF00 117.12–117.13 117.120 +0.540 an increase in demand for Middle East sour crudes Ekofisk QP (Mar) NewCode 9.285 Canada Dated strip AALDJ00 116.60–116.61 116.600 +0.540 Ekofisk QP (Apr) NewCode 9.345 as an alternative slate, sources said. In the Platts BTC Dated strip AAUFI00 117.04–117.06 117.040 +0.540 Market on Close assessment process there were four (PGA page 210) Angola Dated strip AALGM00 116.83–116.85 116.830 +0.540 WTI (Mar) PCACG00 97.45–97.47 97.460 +0.540 West Africa Dated strip AALDH00 116.74–116.76 116.740 +0.540 trades between Shell and Trafigura, with the oil major WTI (Apr) PCACH00 98.02–98.04 98.030 +0.540 WTI (May) AAGIT00 98.55–98.57 98.560 +0.540 Brent/WTI cash spread (2nd month) Contents Eagle Ford Marker AAYAJ00 117.210 +0.540 ACM* (Mar) AAQHN00 111.20–111.22 111.210 +0.540 ($/barrel) Middle East Sour 1 ACM* (Apr) AAQHO00 109.97–109.99 109.980 +0.540 22 Asia Pacific Sweet 3 ACM* (May) AAQHP00 109.00–109.02 109.010 +0.540 North Sea MOC 4 Middle East ($/barrel) North Sea Key Data 5 North Sea Physical Market 5 Mid Change 21 West Africa 7 (PGA page 2210) Mediterranean Light/Sweet 8 Oman (Apr) PCABS00 112.65–112.67 112.660 +0.280 Mediterranean Sour 9 Oman (May) AAHZF00 112.65–112.67 112.660 +0.250 US MOC Commentary 10 Oman (Jun) AAHZH00 112.25–112.27 112.260 +0.270 20 Upper Zakum (Apr) AAOUQ00 113.63–113.67 113.650 +0.250 US Gulf Coast 10 US West Coast 11 Dubai Swap (Mar) AAHBM00 112.65–112.67 112.660 +0.280 Canada 11 Dubai Swap (Apr) AAHBN00 112.64–112.66 112.650 +0.250 Latin America 12 Dubai Swap (May) AAHBN00 112.24–112.26 112.250 +0.270 Source:19 Platts 12-Feb 14-Feb 18-Feb 20-Feb 22-Feb 26-Feb CRUDE OIL MARKETWIRE FEBRUARY 26, 2013 Asia Pacific and Middle East crude assessments ($/barrel) (Asia MOC) (Asia MOC) (Asia close) (London close) API Diff to Gravity Code Mid Change Code Mid Change Code Mid Change Code Mid Asia close Condensate (PGA page 2212) (PGA page 2213) Diff to Dubai Diff to Asian Dated Brent NW Shelf 61.9 PCAGX00 104.05–104.09 104.070 -0.820 AAPAI00 -4.63 -0.050 AAPAH00 104.030 -0.245 Ras Gas 57.0 AAPET00 105.94–105.98 105.960 -0.620 AAPEU00 0.85/0.95 0.900 0.000 AARAZ00 -2.740 +0.140 AARAY00 105.920 -0.055 Qatar LSC 56.9 AARBB00 104.94–104.98 104.960 -0.620 AARBD00 -0.15/-0.05 -0.100 0.000 AARBC00 -3.740 +0.140 AARBA00 104.920 -0.055 South Pars 57.4 AARAV00 100.64–100.68 100.660 -0.620 AARAX00 -4.45/-4.35 -4.400 0.000 AARAW00 -8.040 +0.150 AARAU00 100.620 -0.045 Diff to ICP Senipah 54.4 AAEOE00 107.02–107.06 107.040 -0.830 AAEOK00 2.05/2.15 2.100 -0.050 AAPBE00 -1.650 -0.060 AAPBD00 107.010 -0.255 Light crude (PGA page 2214) (PGA page 2215) Diff to ICP Diff to Asian Dated Brent Cossack 47.7 PCAGZ00 109.00–109.04 109.020 -0.770 AAPAC00 0.320 0.000 AAPAB00 108.980 -0.200 Gippsland 48.7 PCACP00 108.85–108.89 108.870 -0.770 AAPAU00 0.180 +0.010 AAPAT00 108.840 -0.190 Tapis 45.2 PCACB00 114.95–114.99 114.970 -0.680 AAOZW00 6.280 +0.100 AAOZV00 114.940 -0.100 Belida 45.1 PCAFL00 108.65–108.69 108.670 -0.570 PCAFM00 1.50/1.60 1.550 0.000 AAPBQ00 -0.030 +0.200 AAPBP00 108.630 0.000 Kutubu 44.3 PCAFJ00 109.90–109.94 109.920 -0.770 AAPAE00 1.230 +0.010 AAPAD00 109.890 -0.190 Handil Mix 43.9 PCABE00 109.85–109.89 109.870 -0.570 PCABF00 1.45/1.55 1.500 0.000 AAPBI00 1.170 +0.200 AAPBH00 109.830 0.000 Attaka 42.3 PCAAJ00 108.29–108.33 108.310 -0.570 PCAAK00 1.50/1.60 1.550 0.000 AAPBC00 -0.380 +0.210 AAPBB00 108.280 0.010 Ardjuna 38.0 PCACQ00 104.69–104.73 104.710 -0.570 PCACR00 0.75/0.85 0.800 0.000 AAPBG00 -3.980 +0.210 AAPBF00 104.680 0.010 Diff to Dubai Vityaz 41.6 AARAN00 110.34–110.38 110.360 -0.620 AARAP00 5.25/5.35 5.300 0.000 AARAO00 1.670 +0.150 AARAM00 110.330 -0.050 ESPO M1 34.8 AARWF00 109.21–109.25 109.230 -0.830 AASEU00 3.56/3.66 3.610 -0.200 AARWE00 0.090 -0.350 AARWD00 109.230 -0.470 ESPO M2 34.8 AAWFE00 109.25–109.29 109.270 -0.720 AAWFG00 4.16/4.26 4.210 -0.100 Diff to Oman/Dubai Sokol 39.7 AASCJ00 113.75–113.79 113.770 -0.620 AASCK00 8.65/8.75 8.700 0.000 AAPAO00 5.070 +0.150 AAPAN00 113.730 -0.050 Kikeh 34.9 AAWUH00 116.10–116.14 116.120 -0.710 AAOZY00 7.420 +0.050 AAOZX00 116.080 -0.150 Miri Light 32.3 PCABQ00 115.96–116.00 115.980 -0.670 AAPAS00 7.280 +0.100 AAPAR00 115.940 -0.100 Labuan 32.0 PCABL00 116.36–116.40 116.380 -0.770 AAPAQ00 7.680 0.000 AAPAP00 116.340 -0.200 Medium crude (PGA page 2216) (PGA page 2217) Diff to OSP Diff to Asian Dated Brent Su Tu Den 36.8 AARAR00 113.85–113.89 113.870 -0.670 AARAT00 0.75/0.85 0.800 +0.100 AARAS00 5.180 +0.110 AARAQ00 113.840 -0.085 Bach Ho 40.7 PCAHY00 114.40–114.44 114.420 -0.670 AAPAK00 5.730 +0.110 AAPAJ00 114.390 -0.085 Nanhai 40.0 PCAFR00 107.20–107.24 107.220 -0.710 AAPAG00 -1.470 +0.060 AAPAF00 107.190 -0.135 Diff to ICP Minas 35.3 PCABO00 109.21–109.25 109.230 -0.720 PCABP00 1.15/1.25 1.200 -0.150 AAPBA00 0.540 +0.060 AAPAZ00 109.200 -0.135 Nile Blend 33.9 AAPLC00 103.41–103.45 103.430 -0.570 AAPEX00 -4.65/-4.55 -4.600 0.000 AAPAM00 -5.260 +0.210 AAPAL00 103.400 0.015 Widuri 33.2 PCAFE00 106.19–106.23 106.210 -0.620 PCAFF00 0.35/0.45 0.400 0.000 AAPBO00 -2.480 +0.160 AAPBN00 106.180 -0.035 Daqing 32.2 PCAAZ00 106.30–106.34 106.320 -0.660 AAPAW00 -2.370 +0.110 AAPAV00 106.290 -0.085 Cinta 31.1 PCAAX00 106.39–106.43 106.410 -0.620 PCAAY00 0.35/0.45 0.400 0.000 AAPBK00 -2.280 +0.160 AAPBJ00 106.380 -0.035 Heavy crude (PGA page 2218) (PGA page 2219) Diff to ICP Diff to Asian Dated Brent Dar Blend 25.0 AARAB00 100.30–100.34 100.320 -0.570 AARAC00 -8.380 + 0.200 AARAA00 100.280 0.005 Shengli 24.2 PCABY00 105.55–105.59 105.570 -0.630 AAPAY00 -3.120 + 0.150 AAPAX00 105.540 -0.045 Duri 20.8 PCABA00 105.10–105.14 105.120 -0.620 PCABB00 2.95/3.05 3.000 0.000 AAPBM00 -3.570 + 0.150 AAPBL00 105.090 -0.045 Stybarrow 22.8 AARAH00 115.620 -0.660 AARAI00 6.930 + 0.110 AARAG00 115.590 -0.085 Enfield 22.0 AARAE00 116.220 -0.660 AARAF00 7.520 + 0.100 AARAD00 116.180 -0.095 Vincent 18.3 AARAK00 112.020 -0.660 AARAL00 3.320 + 0.100 AARAJ00 111.980 -0.095 Copyright © 2013, The McGraw-Hill Companies 2 CRUDE OIL MARKETWIRE FEBRUARY 26, 2013 Middle East spot assessments ($/barrel) (PGA page 2220) nominating its second Oman cargo to the trading house Mid Change Spread vs OSP Mid Change for May loading.
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