Middle East Crude-Benchmarks mixed, Sakhalin premiums stay firm

Fawad Maqsood July 29, 2019

SINGAPORE: Middle East crude benchmarks were mixed on Monday as Oman weakened after three strong sessions while Dubai and the spot premiums for Russian Sakhalin crude held firm.

Sakhalin Energy has sold around four Sakhalin Blend crude cargoes for loading in October at premiums of $2.00-$2.50 a barrel to Dubai quotes, hovering at this year’s high, trade sources said.

For condensate, Indonesia’s Pertamina has bought 650,000 barrels of North West Shelf (NWS) condensate at a narrower discount of about $2 a barrel to dated Brent on a cost-and-freight basis for October delivery, trade sources told Reuters on Monday. Trading house Glencore Plc is believed to be the seller, they said.

Copyright Reuters, 2019

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