BP cuts offer premium on Johan Sverdrup cargo to dated Brent plus $1.15
BP lowered its offer for Norwegian Johan Sverdrup crude in Monday's Platts window. No deals were done, and the premium fell from $2.00 to $1.15 over dated Brent.
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what happened
BP reduced the price of its offer for a cargo of Norwegian Johan Sverdrup crude in Monday's Platts window, a session that was otherwise quiet. According to Reuters, no deals were concluded during the trading.
BP now offers cargoes loading November 5-7 at dated Brent plus $1.15. In the previous session the premium stood at $2.00, and earlier the company had offered $2.85.
why it matters
Premiums to dated Brent for physical Sverdrup cargoes show how buyers value this North Sea grade at the moment. A lower premium with no trades points to restrained buyer interest and a softer physical North Sea crude market.
tags
instruments
sources
- North Sea Crude-BP offers Johan Sverdrup at lower price — Reuters, 26 October 2026 at 19:28 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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