SINGAPORE: The Middle East crude market was mixed on Thursday as the discount for light sour Murban narrowed slightly for May, while medium grades such as Qatar Marine and Upper Zakum remained mired in discounts.
UAE: Japanese refiner Fuji Oil has bought one 500,000-barrel cargo of Murban crude loading in May via a tender, trader said.
The company bought the cargo from a global oil trader at 7 cents below its official selling price (OSP), they added.
Fuji Oil has a lower demand for spot Middle East crude this month because of term supplies and high inventories, one of the sources said.
QATAR: Qatar Petroleum has sold two cargoes of May-loading al-Shaheen crude at lower premiums than the previous month, as the peak refinery maintenance season crimped demand in Asia, traders said.
The cargoes, loading on May 1-2 and May 8-9, were sold at premiums of 12 and 14 cents a barrel to Dubai quotes, putting the month's average premium at 13 cents, they said. Chinaoil may have bought the cargoes.
RUSSIA: China's CEFC has sold one of its two May-loading Sokol crude cargoes in the spot market, traders said.
The cargo to load on May 20 was sold at a premium of low-$4 to Dubai quotes, slightly below the low-end of the price range for April-loading cargoes, they said.
The other cargo has been committed to a term buyer, one of the sources said.
ExxonMobil is offering three 700,000-barrel Russian Sokol cargoes for loading on May 7, 18 and 29. Buyers are to bid for a specific cargo and only one of the three cargoes will be awarded.
Comments
Comments are closed for this article.