RTRS:Asia-Pacific Crude-Vityaz rises to 4-month high; Bach Ho offer
SINGAPORE, Sept 21 (Reuters) - Light sweet crude in Asia was
supported on Friday by firm refining margins, but Vietnam's Bach
Ho offer may raise supply and weigh on sentiment for heavier
grades.
* BACH HO
- PV Oil has offered November Bach Ho crude in a tender
after a month's halt and indicated that its quality will be
heavier than before, trade sources said.
Buyers can put in bids for cargoes between 200,000 and
600,000 barrels to be loaded in November. The crude's API
gravity could vary from 35.4 to 36.5 degrees, down from the
usual 40 degrees.
The tender will close on Sept. 25 with bids valid until two
days later.
* TENDERS
- Russia's Sakhalin Energy sold 730,000 barrels of light
sweet Vityaz crude for November loading via a tender at the
highest premium in four months as firm refining margins buoyed
demand, traders said.
The cargo for Nov. 19-26 loading was sold at about $5.50 a
barrel above Dubai quotes, at a premium around $1 higher than
the previous month, they said.
Another two cargoes were sold at similar premiums after the
tender was awarded. End users in Japan, South Korea and China
bought a cargo each.
- PV Oil sold the Song Doc cargo to an oil major, likely
Shell, at a premium between $6 and $6.50 a barrel to dated
Brent, traders said. The cargo will load on Oct. 28-Nov. 2.
- India's IOC bought 1 million barrels each of Qua Iboe and
EA from Total for November loading.
- India's HPCL issued a tender seeking sweet crude for
November loading. Part one on grade offers will close on Sept.
24 with prices due on Sept. 25. Offers will stay valid until
Sept. 26.
* MARKET NEWS
- Two more cargoes of North Sea Forties crude oil loading in
October have been delayed due to lower-than-expected production,
disrupting shipments of the oil that sets the price of the
global Brent benchmark.
CRUDE Price Prev Change
NOV Brent 110.48 107.61 +2.87
NOV Brent/Dubai EFS DUB-EFS-1M 3.60 3.43 +0.17
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OCT gasoil crack 19.44 20.04 -0.60
NOV naphtha crack -8.12 -8.22 +0.10
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