SINGAPORE: India's Essar Oil has sold an October cargo to Glencore at about $28 a tonne above Middle East quotes on a free-on-board (FOB) basis, about 15-20 percent lower than what it had fetched for a late September cargo, traders said on Tuesday.
The 28,000-30,000 tonne cargo is scheduled for first-half October loading from Vadinar port in Western India.
Essar had previously sold three September cargoes to Vitol, with the most recent cargo scheduled for Sept 26-30 loading fetching a premium of $33-$35 a tonne.
But tight September supplies caused by refinery maintenance in India will ease as plant maintenance in Vizag and Mumbai are expected to be completed this month.
Vizag is in the southeast coast of India while Mumbai is in western India.
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