Home

 
India Bullion iPhone Application
  Quick Links
Currency Futures Trading

MCX Strategy

Precious Metals Trading

IBCRR

Forex Brokers

Technicals

Precious Metals Trading

Economic Data

Commodity Futures Trading

Fixes

Live Forex Charts

Charts

World Gold Prices

Reports

Forex COMEX India

Contact Us

Chat

Bullion Trading Bullion Converter
 

$ Price :

 
 

Rupee :

 
 

Price in RS :

 
 
Specification
  More Links
Forex NCDEX India

Contracts

Live Gold Prices

Price Quotes

Gold Bullion Trading

Research

Forex MCX India

Partnerships

Gold Commodities

Holidays

Forex Currency Trading

Libor

Indian Currency

Advertisement

 
RTRS:Middle East Crude-Discounts seen for Nov Basra Light
 
SINGAPORE, Sept 28 (Reuters) - Trade in the Middle East
crude market slowed on Friday as most of the November cargoes
have been sold except for Basra Light.
A wide bid-offer gap for the Iraqi grade has stalled trade
this week and a tender by an Indian refiner could determine its
spot differential.

*TENDERS
- Indian refiner Hindustan Mittal Energy Ltd (HMEL) issued a
tender seeking 2 million barrels of Basra Light for November
loading. It is expected to award the tender later on Friday.
Sellers offered November Basra Light at parity to its
official selling price (OSP), but buyers, mainly Indian
refiners, were looking at discounts of about 20 cents a barrel.
October Basra Light was sold at discounts between 15 and 20
cents a barrel to OSP.

*TRADES
- A total 36 Dubai partials was traded on the Platts window
with Chinaoil as the main buyer and Unipec the key seller.
Prices range from $110.25 to $110.60 a barrel.

*OSP
- The OSP for Oman crude in November will rise by $2.19 to
$111.24 a barrel, Reuters calculations based on data from the
Dubai Mercantile Exchange (DME) showed.
The November OSP for Dubai crude, which was set at a
25-cents a barrel discount to DME Oman, will be at $110.99 a
barrel.

*SUPPLY
- Abu Dhabi National Oil Co (ADNOC), the main exporter for
OPEC member the United Arab Emirates, will supply full
contractual crude oil volumes to Asia in November, steady from
October, industry sources said.

*REFINERY
- Japan's TonenGeneral Sekiyu said it had resumed
normal operations of the sole 156,000 barrels per day No.1 crude
distillation unit (CDU) at its Sakai refinery in western Japan
on Wednesday after an unplanned shutdown.
- Japan's Seibu Oil Co Ltd, a Showa Shell Sekiyu KK
group refiner, is expected to restart its sole 120,000
barrels-per-day (bpd) crude distillation unit (CDU) at its
Yamaguchi refinery in western Japan by early next week following
planned maintenance.
- Japan's top oil refiner JX Nippon Oil & Energy Corp plans
to refine 5.21 million kilolitres (1.06 million barrels per day)
of crude oil for domestic consumption in October, up 6 percent
from a year earlier, a company executive said.

*MARKET NEWS
- Japan, one of the major buyers of Iranian crude, is set to
import about 30 percent less crude oil from Iran for the rest of
this year compared to a year earlier, Yasushi Kimura, president
of the Petroleum Association of Japan (PAJ), said.

The country's crude imports from Iran was down 66.8 percent
in August to 497,961 kilolitres (101,035 barrels per day), the
trade ministry said.
- A Chinese shipyard has delivered the first of 12
supertankers to Iran, giving Tehran extra capacity to transport
its oil to Asia as it struggles against Western sanctions, but
it is unclear if the ship has the permits necessary to call at
global ports.
- India's oil imports from Iran fell nearly 5 percent in
August from July, tanker discharge data made available to
Reuters showed on Thursday, in a third straight monthly drop
that supports the country's case for renewal of a waiver from
U.S. sanctions.
- Russia will boost exports of ESPO crude blend from the
Pacific port of Kozmino by 300,000 tonnes (2.2 million barrels)
in November compared with October at 1.6 million tonnes after
the expansion of the Asian pipeline, a loading schedule seen by
Reuters showed.
Next year, Transneft expects to load 20 million tonnes of
ESPO, up by one third from its plan for 2012.
- Venezuela began early production on Thursday at two joint
ventures with Russian and Vietnamese investors in the South
American OPEC nation's huge Orinoco heavy crude belt.


CRUDE Price Prev Change
NOV DME Oman diff to Dubai swaps +1.60 +1.02 +0.58
NOV Brent 112.59 110.39 +2.20
NOV Dubai 108.99 106.89 +2.13
NOV DME Oman 110.59 107.91 +2.68
NOV Brent/Dubai EFS 3.60 3.50 +0.10

PRODUCT CRACKS
OCT fuel oil crack -6.78 -6.65 -0.13
OCT gasoil crack +19.13 +18.86 +0.27
NOV naphtha crack -7.26 -7.03 -0.23

COMPLEX REFINERY MARGINS
Today 9.56
Last 5 days 9.59
Last 365 days 7.40

Source