Japanese refiners commenced purchases late last week, paying premiums between 15 and 19 cents a barrel to OSP for Murban, down from 30-40 cents from the previous month, they said. A Japanese refiner has bought a Das Blend cargo at about 15 cents a barrel above OSP.
For medium grades, Qatar Marine slipped into a single-digit discount, down from premiums of 20-30 cents last month, after Qatar raised the grade's OSP premium to Dubai.
BAPCO has sold two Banoco Arab Medium cargoes to Japan, one to TonenGeneral at about 7 cents a barrel above OSP while the second one went to an unknown buyer at a lower premium, traders said. The deals could not be independently verified.
Heavy sour al-Shaheen also came under pressure with Maersk and Unipec selling two cargoes each at 70 cents to $1 a barrel above Dubai quotes. Qatar's Tasweeq was expected to award five al-Shaheen cargoes for August loading in its monthly tender at an average premium of 78 cents a barrel, down from $1.16 last month, traders said.
Last week, Shell sold two Upper Zakum cargoes on the window to Vitol and Trafigura at 10 cents a barrel above OSP, they said, down from 15 cents in the previous month.