SINGAPORE: Trade in Asia-Pacific crude turned brisk as refiners and producers launched a series of tenders ahead of the Eid holidays this weekend and as regional crude premiums for August cargoes were seen trending higher, possibly prompting refiners to cover requirements earlier.
THAILAND
IRPC TENDER: State refiner PTT issued the monthly sweet crude import tender on behalf of the Rayong-based IRPC refinery earlier than in past months as August-loading regional cargoes have traded faster than usual due to the upcoming Eid holidays.
The tender is seeking Aug. 15-Sept. 10 delivery sweet crude, and will close on June 21. Offers will be held valid to June 22.
IRPC bought US Eagle Ford 45 crude, Vietnamese Hai Thach condensate and Malaysian Kikeh crude in its previous tender.
MALAYSIA
BERTAM: Petronas closed its tender offering 300,000-barrels of the grade for Aug. 25-29 loading on Tuesday. It is due to award its tender on June 21 when validity for bids expire.
BUNGA ORKID: Petronas awarded its Aug. 1-7 Bunga Orkid cargo to Vitol at a premium slightly lower than July-loading deal levels between $2.80-2.90 per barrel to dated Brent, traders said.
State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for June at $2.58 per barrel, the lowest since it launched its OSP mechanism in January 2014, the company said on Tuesday.
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