Kutubu Light supplies to remain steady

SINGAPORE: The Asia Pacific crude oil market remained steady on Monday with supplies from Papau New Guinea expected to be similar to the previous month's.

But sentiment on Asia Pacific crude to trade in October was mixed as profitable arbitrage economics to ship cargoes from west to Asia are expected to outweigh a narrow Brent-Dubai price spread which typically makes regional crudes more attractive, trade sources said.

PAPUA NEW GUINEA

* Two 650,000-barrel cargoes of Papua New Guinea Kutubu Light crude oil will load in October, steady from September, two industry sources said.

Sales of Kutubu Light resumed in May for cargo loading in July after a major earthquake shut production from late February until early April.