RTRS:Asia-Pacific Crude-April ESPO falls on weaker cracks
SINGAPORE, March 5 (Reuters) - The Asia-Pacific crude
market softened on Monday after Russian ESPO crude fell on
weaker middle distillates and fuel oil cracks.
Russia's TNK-BP sold the one April-loading cargo to Japan's
JX Holdings at a premium of around $5.50 a barrel to Dubai
quotes, down from premiums of around $6 a barrel last seen for
March parcels, a trader said.
* MARKET NEWS
- Russia, the world's top crude producer, rejected a Chinese
request for more Siberian pipeline oil, saying the link is
already pumping at full capacity and additional volumes are not
available, two state energy industry sources told Reuters.
- Malaysia's state oil firm Petroliam Nasional Bhd
(Petronas) posted a 34 percent decline in
third-quarter profit on Monday, saying the fall was mainly due
to a one-off gain in 2010 from the listing of subsidiaries.
- Iran's biggest Indian oil client, Mangalore Refinery and
Petrochemicals Ltd (MRPL) MRPL.NS, plans to cut its annual
import deal with Tehran by as much as 44 percent to 80,000
barrels per day (bpd) in 2012/13, two sources said, as western
sanctions make trade more difficult.
- Saudi Arabia has raised the price of its flagship Arab
Light crude oil for customers in Asia, who buy more than half of
its crude exports, by $1.25 a barrel for April, while cutting
prices for its heavy crude for European buyers, state-run Saudi
Aramco said on Sunday.
CRUDE Price Prev Change
APRIL Brent 123.49 125.26 -1.77
APRIL Brent/Dubai EFS DUB-EFS-1M 4.20 4.36 -0.49
PRODUCT CRACKS Price Prev Change
APRIL fuel oil crack -5.41 -5.74 0.33
APRIL gasoil crack 14.77 14.96 -0.19
APRIL naphtha crack -6.82 -7.23 0.41
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