SINGAPORE: Asia-Pacific crude market stayed firm on Wednesday, supported by a drop in Vietnamese exports and demand from Shell, traders said.
PV Oil sold two August-loading Chim Sao cargoes at $1.50 a barrel above dated Brent to BP and Unipec, similar premiums from previous month, they said.
The Vietnamese oil marketer also sold two Ruby cargoes to Shell in a separate tender at similar premiums from previous month.
Petroleum Brunei was still in talks to sell two Kimanis cargoes loading in August although traders said the grade could be sold at premiums above $2.50 a barrel to dated Brent, higher than the previous month.
Russian grades stayed depressed following a drop in demand for light sour spot crude.
Sokol was offered at $4 a barrel above Dubai quotes, traders said, down from a previous deal at a premium of more than $5, despite tighter supplies due to field maintenance.
ESPO crude loading in the first 10 days of August was mostly sold at premiums under $2 a barrel, traders said. Demand may pick up for cargoes loading later in the month.
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