GLENCORE ENERGY UK LTD V CIRRUS OIL SERVICES LTD

[2014] EWHC 87 (Comm), Queen's Bench Division, Commercial Court, Mr Justice Cooke, 24 January 2014

Contract - Contract formation - Identification of offer and acceptance - Identity of buyer - Sale of Goods Act 1979, section 50

The claimant, Glencore, sought damages from the defendant, Cirrus Oil, for repudiation of a contract alleged to have been made on 4 April 2012 for the sale of 630,000 barrels (plus or minus 5 per cent at Glencore's option) of Ebok crude oil at a price of DTD + $0.15 per barrel cfr Tema. DTD was industry shorthand for the index price of Brent crude oil on the relevant specified dates, which in this case were the five days following the bill of lading date. Glencore's case was that the contract was concluded when a "firm offer" made in an email of 3 April 2012 was accepted by a "good news" email from Cirrus Oil on the morning of 4 April 2012. The following questions arose.