TotalEnergies added to the regional slide by offering 920,000 barrels of Congo’s Djeno at Dated -$23.10 per barrel for late November loading. In the North Sea, BP reduced its Johan Sverdrup offer to +$7.7 from +$11. Market participants attribute the divergence between North Sea premiums and the West African collapse partly to volatility in the freight market.
Tuesday, October 20, 2026
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Vitol's Record North Sea Bids Highlight WAF's Lowest Price Since 2011
Commodities14 days ago
Benchmark prices for North Sea crude grades surged after Vitol submitted bids that eclipsed peaks from April. The trader pushed prices for Troll crude to +$25.90 per barrel, Brent to +$25.60 and Forties to +$24.05. Simultaneously, West African crude prices plummeted, with Exxon Mobil buying 950,000 barrels of Angola’s Hungo from Eni at Dated -$19.60 per barrel, the lowest price for a West African cargo on the Platts window since 2011.
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