SINGAPORE: The Middle East crude market was steady on Tuesday as traders awaited announcements of official selling prices (OSPs) by producers, expected next week.
Some traders said OSPs might be lowered slightly after a previous price spike by producers led to weaker premiums across grades for December cargoes.
TENDER:
- Taiwanese refiner CPC, which had floated a tender to buy sour crude last week, may have bought Oman, traders said. No other details were available. It bought an Angolan grade through a similar tender for sweet crude.
MARKET NEWS
- Japan's crude oil imports from Iran fell about 38 percent in September from a year earlier, data from the Ministry of Finance showed on Tuesday.
- Japan is seeking an exemption from proposed new US sanctions against Iran that could effectively freeze Tehran's use of payments for oil, the Nikkei business daily reported on Tuesday, citing sources.
- US refinery and pipeline companies that nearly halted East Coast fuel supplies ahead of Hurricane Sandy will begin assessing the storm's damage on Tuesday, hoping their flood defences will allow a quick return to service.
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