SINGAPORE: Trade for July-loading cargoes has slowed, with most cargoes committed and the market shifting focus to regional crude import tenders that can help to absorb remaining cargoes from the most recent trading cycle.
THAILAND
IRPC TENDER: Thai state-controlled PTT has yet to issue the monthly sweet crude import tender on behalf of Rayong-based refiner IRPC. A rise in regional premiums this month could prompt the refiner to turn towards arbitrage cargoes held in floating storage, a source familiar with Thai tender thinking said.
INDONESIA
AUGUST-DELIVERY SPOT TENDER: Pertamina is seeking up to two 600,000-barrel cargoes of either Nile Blend or Rabi Export Blend crude for delivery Aug. 8-10 and Aug. 23-25 to its Balongan refinery.
SEPT-DEC TERM TENDER: The Indonesian oil company is also seeking between one and three 600,000-barrel cargoes of Nile Blend or Rabi Export Blend crude a month for the September to December period. The tenders close on May 31 and bids are valid to June 5.
BRENT-DUBAI EFS
Brent's premium to Dubai swaps was at $0.80 a barrel, up 1 cent for July.
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