SINGAPORE: The Middle East crude benchmarks extended gains on Thursday, showing price strength in medium-heavy grades, although light grades are coming under pressure from rising arbitrage supplies from the United States and Europe.
UAE: More July-loading Upper Zakum cargoes traded at premiums just under 30 cents a barrel to its OSP (official selling price), traders said, slightly lower than earlier trades at premiums of above 30 cents.
More details about Fuji Oil's tender emerged. The three Murban cargoes were sold at premiums between 20 and 25 cents a barrel to the grade's OSP.
RUSSIA: ExxonMobil has sold a July-loading Sokol crude cargo at $5.20-$5.30 a barrel above Dubai quotes, down from a premium of $5.80 a barrel achieved in ONGC's tender last month, traders said. Demand for the light sour crude is being eroded by rising US arbitrage supplies, a trader said.
Rosneft offered an ESPO cargo loading on July 11-16 in a tender to close on May 18.
QATAR: Qatar Petroleum sold July-loading al-Shaheen crude at an average premium of $1.20 a barrel to Dubai quotes, the highest premium in more than 2 years, three trade sources said.
Shell bought three of the four al-Shaheen cargoes while JXTG purchased one, the sources said. The cargoes are for loading on July 18-19, 24-25, 29-30 and 29-30.
Qatar Petroleum has also sold 2 million barrels of condensate loading in July to South Korean buyers via a spot tender, traders said.
Hyundai Oilbank bought 1 million barrels of deodorised field condensate (DFC) at $4.50 a barrel above Dubai quotes, while Hanwha Total Petrochemical purchased 1 million barrels of low-sulphur condensate (LSC) at $3.50-$3.75 a barrel above Dubai quotes, they said.
Occidental has sold the only spot Qatar Land cargo loading in July at a premium between 10 and 20 cents a barrel to its OSP, a trader said.
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