SINGAPORE: Spot premiums for Vietnamese grades loading in January held steady in the Asia-Pacific market on Thursday on limited supplies.
VIETNAM: The number of Ruby cargoes available in January halved from the previous month to one cargo which went to an oil major, likely Shell, at about $2.50 a barrel above dated Brent. The premium is about 50 cents higher than the previous month.
Petronas has sold the only Bunga Orkid cargo loading in January to PTT at about $3 a barrel above dated Brent, similar to a month ago.
MALAYSIA: ConocoPhillips closed on Thursday a tender to sell a Kimanis cargo. A trader said the crude’s spot premium may have slipped to about $4 a barrel, down from $4.30-$4.40 in the previous month, after supply rose. There are 11 Kimanis cargoes loading in January, one more than December.
Related Post
RUSSIA: Sokol premiums likely weakened as China’s CEFC may have sold its first Sokol cargoes to load in January at premiums of $4.20-$4.30 a barrel to Dubai quotes to unknown buyers, traders said.
Earlier Sokol trades were between $4.50 and $4.80 a barrel.
ONGC offered a third Russian Sokol cargo this month after producers increased exports to 13 cargoes in January, up from about 11 in a typical month.
Source: Brecorder.com
