MARKET COMMENT: Forties Cargoes Deferred On Buzzard Shortage

By Dow Jones Business News,  February 27, 2013, 07:42:00 AM EDT


1227 GMT [Dow Jones] Seven Forties crude oil cargoes have been deferred as a result of lower production volumes from the North Sea's largest oil field, Buzzard, with the longest deferral being 10 days, according to traders. Cargoes FO219, FO302, FO304, FO306, FO307 and FO309 and have all been delayed for between one and four days. Cargo FO303, originally due to begin loading March 5, has been deferred to March 15. Traders say they are aware of lower volumes. "[ The] Buzzard shortage is bullish yes, but not seeing that in the price yet," says a trader.

(cassie.werber@dowjones.com)

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  (END) Dow Jones Newswires
  02-27-130742ET
  Copyright (c) 2013 Dow Jones & Company, Inc.

This article appears in: News Headlines

Referenced Stocks: BP, CVX, NXN, RDS, STO



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