SINGAPORE: Spot premiums for Russian and Omani crude rose on Monday on strong buying interest from China.
DME Oman's premium to Dubai swaps rose 14 cents to $2.30 a barrel while ESPO crude's premium touched a nine-month high as traders snapped up cargoes to supply Chinese independent refiners.
Russia's Surgutneftegaz sold a cargo of ESPO Blend crude for Sept. 8-14 loading at $5.30-$5.40 a barrel above Dubai quotes, the highest premium in nine months, likely to China's Unipec, two trade sources said.
More ESPO cargos have been offered in tenders.
Russia's Rosneft offered three ESPO cargos for September loading in a tender to close on July 23, with bids valid until July 26. Loading dates are Sept. 5-10, 10-15, and 20-25.
Russia's Gazprom is due to award a tender of one ESPO cargo for Sept. 3-13 loading later on Monday.
ASIA-PACIFIC CRUDE: Vietnam's PV Oil has sold a cargo of Chim Sao for Sept. 25-29 loading to Taiyo at a premium close to $5 above Dated Brent.
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