SINGAPORE: Vietnamese grades in the Asia-Pacific crude market were sold at steady premiums from the previous month, underpinned by firm demand from China and Thailand, traders said on Tuesday.
PV Oil sold three 300,000-barrel Bach Ho cargoes to Unipec loading on at $1-$1.50 a barrel above dated Brent. The cargoes will load on May 2-6, 14-18 and 27-31.
The Vietnamese state marketer also sold 300,000 barrels of Bunga Kekwa to PTT at $1.50-$1.90 a barrel above dated Brent.
As Vietnam wraps up its tenders, traders shifted their attention to Malaysian grades which have so far been traded at steady premiums from the previous month.
Petronas has sold May-loading Cendor at $4-$4.50 a barrel above dated Brent while the values for Kimanis and Kikeh were at premiums of about $3.50 a barrel.
ConocoPhillips offered May-loading Kikeh at $3.80 above dated Brent although it was unclear if the cargo has been sold.
IRPC issued its monthly tender to buy sweet crude for May 25-June 10 delivery. The tender will close on March 30 with offers valid until April 1.
Petronas offered 320,000 barrels of Cakerawala condensate loading on May 12-21 and 300,000 barrels of Muda condensate for May 12-18. The tenders will close on March 29 with bids valid until a day later.
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