RTRS:Asia-Pacific Crude-Trading thin as market looks to July cargoes
SINGAPORE, May 4 (Reuters) - Asia-Pacific crude market was steady on Friday,
with most June-loading cargoes, except for condensates, sold and participants
looking towards the start of July trading.
Traders expect the market for July cargoes to strengthen as refining margins
improve and refiners complete plant maintenance.
* TENDERS
- Vietnam's PV Oil is offering 400,000 barrels of Dai Hung crude via a
tender that closes on May 8 and is valid until May 10.
- PV Oil is also seeking 400,000-600,000 barrels of sweet crude for June
delivery via a tender that closes on May 8 and is valid until May 10.
* OSP
- The official Indonesia Crude Price (ICP) for Minas has been calculated at
$127.96 a barrel for April, down $3.54 from March, an industry source said on
Friday.
* MARKET NEWS
- OPEC is working hard to bring down oil prices that jumped towards $130 a
barrel earlier this year, its secretary general said on Thursday, and is pumping
much more than its official target even as exports from cartel-member Iran
dwindle.
- PetroChina, the country's largest oil and gas producer, will
restart next week a 80,000 barrels-per-day crude distillation unit at its
Jinzhou refinery after one-month maintenance, an industry source said on Friday.
CRUDE Price Prev Chang %
change
JULY Oman diff to Dubai 1.19 1.17 0.02
JUNE Brent 115.50 118.15 -2.65 -2.24%
JULY Dubai 111.66 114.25 -2.59 -2.27%
JULY DME Oman 112.85 115.42 -2.57 -2.23%
JUNE Brent/Dubai EFS 3.47 3.43 -0.04
PRODUCT CRACKS Price Prev Chang
JUNE fuel oil crack -4.07 -4.72 0.65
JUNE gasoil crack 16.72 17.01 -0.29
JUNE naphtha crack -10.07 -9.96 -0.11
COMPLEX REFINERY MARGINS
Today 9.30
Last 5 days 7.91
Lat 365 days 7.71
