Wires

North Sea Crude-Forties spikes on refinery demand

* Forties sold at dated Brent plus 84 cents, up 29 cents

* Swaps backwardation curve steepens

* Refinery demand combines with tighter loading programmes

* BP active buyer of physical Forties in window

LONDON, Oct 9 (Reuters) - North Sea Forties crudedifferentials pushed higher on Tuesday, supported by reports ofstronger refinery demand and as BP entered the wet cargo marketas a buyer.

Physical, paper and swaps levels all strengthened sharply,particularly at the front end of the curve, swaps dealers said.

North Sea loading programmes for November so far show asmaller stream of cargoes for export with around 780,000 barrelsper day (bpd) of the four BFOE grades - Brent, Forties, Osebergand Ekofisk - available, down from about 870,000 bpd in October.

European middle distillate and light products markets aretight, supported by a combination of lower runs, refinerymaintenance turnarounds and pre-winter buying, and most of thedistillate-rich cargoes are being snapped up by end-users asthey appear, traders said.

Almost the entire Forties crude oil cargo loading programmefor October has been deferred due to a slower-than-expectedreturn to production of the Buzzard offshore oilfield, Britain'sbiggest, after a maintenance shutdown.

At least four October Forties cargoes have been deferredinto November. The deferral should compensate slightly for lowerForties November loadings.

FORTIES

* In the afternoon trading window, Shell sold BP a Fortiesloading Oct. 29-31 at dated Brent plus 84 cents, up almost 30cents from Monday's last trade. On Monday, Trafigura sold anOct. 22-24 Forties BP at dated Brent plus 55 cents.

* Also in the afternoon trading window, BP bid up to datedBrent plus 80 cents for a Forties cargo loading Oct. 24-28 butfound no sellers at that level. On Monday, Shell offered an Oct.22-24 Forties at dated plus 80 cents.

SWAPS

* The swaps curve remained in steep backwardation,strengthening particularly at the front of the curve.

15-19/10 Dec +13522-26/10 Dec +11029-02/11 Dec +785-9/11 Dec +5312-16/11 Dec +2819-23/11 Dec +5DATABASE

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(Reporting by Christopher Johnson,; Editing by Robin Pomeroy)

((christopher.johnson@thomsonreuters.com)(+44 207 5426056)(Reuters Messaging:christopher.johnson.reuters.com@reuters.net))

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NORTH SEA CRUDE OIL DIFFERENTIALS AND OUTRIGHT PRICES:

Dated BFOBrentFortiesOsebergEkofiskStatfjordFlotta

Monthly North Sea crude loading programmes

North Sea Sullom Voe shipments

New North Sea oilfieldsUK North Sea oil outputNorway oil output, monthlyBFODated BFO weekly swapsDated BFO front line swapsNYMEX crudeIPE crudeINSIGHT reportOPECNorth Seacrude oiloil productsderivativesEuropean productsLatest IPELatest NYMEXenergy speed guidecrude speed guide))

Keywords: MARKETS EUROPE CRUDE/