Forties oil work to drive drop in June Brent benchmark supply – source
The North Sea Forties crude oil stream will load only one or two cargoes in June due to planned maintenance work, two trade sources said on Thursday, reducing supply of the crude that underpins the global Brent benchmark.
“It’s going to be a tiny programme,” one of the sources said, adding that the Hound Point terminal where Forties cargoes load would be closed for most of June.
Forties is normally the largest or second-largest of the five crude grades that underpins Brent, loading as many as 15 cargoes in a month. The other four grades are Ekofisk, Oseberg, Troll and Brent itself.