SINGAPORE: The February differential for physical Oman remained at a wide discount after a Japanese refiner sold a cargo, traders said on Friday.
Fuji Oil sold a cargo of February-loading Oman to Shell at a discount or between 60 and 70 cents a barrel to Dubai quotes in a tender, they said. The price levels were similar to purchases by Taiwanese refiner CPC a day earlier.
Several cargoes of February-loading Basra Light have been sold to India at premiums of 20-30 cents a barrel to its official selling price (OSP), traders said, helped by a reduction in OSP.
Separately, Banoco Arab Medium had been offered at 70 cents a barrel above its OSP although no deal was heard, one of the traders said.
Chinaoil will deliver its sixth Upper Zakum cargo to Shell on Friday, a second trader said.
Light grades remained supported by robust middle distillates margins. Russia's Rosneft has sold three cargoes of Sokol at premiums between $4.30 and $4.50 a barrel to Dubai quotes, traders said, up from $3.55-$3.70 a barrel in the previous month.
Buyers for the cargoes loading on Feb. 4-7, 16-19 and 19-22 were not immediately known.
ONGC earlier sold its Sokol cargo loading on Feb. 20-26 to SK Energy at about $3.50 a barrel above Oman/Dubai quotes.
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