RTRS:Asia-Pacific Crude-April ESPO weakens further
SINGAPORE, March 8 (Reuters) - Values for
April-lifting ESPO crude weakened further on Thursday, as
limited demand and weak refining margins weighed on the Russian
grade.
Russia's Surgutneftegas may have sold April ESPO at premium
of around $4.00 a barrel to Dubai crude, down from a previous
deal done at around $5.50 a barrel, a trader said, although this
could not be confirmed.
Asian oil product cracks have weakened as demand for heating
fuel for winter ends and more refineries have entered into
maintenance.
* TENDERS
- Russia's Rosneft is offering two cargoes of Sokol crude
for May 6-15 and May 22-31 loading via a tender which closes on
Friday. Rosneft had sold April Sokol at a premium of $7.80-$8.00
a barrel in its previous tender.
* MARKET NEWS
- Royal Dutch Shell RDSa.L has stopped buying Iranian crude
to comply with Western sanctions against Tehran and deliveries
of oil under outstanding contracts will end within weeks, CEO
Peter Voser said on Wednesday.
- China's imports of crude oil and copper in February are
expected to have fallen from January's levels, as many oil
refineries start regular maintenance and industrial consumers
push back metal shipments amid swollen inventories and feeble
demand.
- China, the world's top energy consumer, is expected to
announce in the first half of this year a plan to cap total
energy consumption for 2015, including individual targets for
provinces, media reported.
CRUDE Price Prev Change
APRIL Brent 125.08 122.63 2.45
APRIL Brent/Dubai EFS DUB-EFS-1M 3.63 3.65 -0.02
PRODUCT CRACKS Price Prev Change
APRIL fuel oil crack -6.47 -5.42 -1.32
APRIL gasoil crack 14.73 15.53 -0.80
APRIL naphtha crack -7.19 -6.41 -0.78
COMPLEX REFINERY MARGINS
Today 6.57
Last 5 days 6.24
Lat 365 days 7.87
(Reporting by Francis Kan; editing by Miral Fahmy)