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:Asia-Pacific Crude-Vietnam offers more prompt Bach Ho
 
SINGAPORE, May 25 (Reuters) - Sentiment in the Asia-Pacific
crude market stayed weak on Friday as Vietnam offers more prompt
Bach Ho crude, adding more volume to an already well-supplied
market.
Yet, certain grades such as Labuan and Kutubu are finding
support from limited supply and firm demand for distillate-rich
crudes.

* TENDERS
- Vietnam's PV Oil offered Bach Ho crude for lifting in June
to July in a tender to close on May 28 with bids valid until May
30. Buyers can opt to buy 200,000-600,000 barrels of Bach Ho per
cargo and bid on a free-on-board (FOB), cost-and-freight (C&F)
and cost-insurance-and-freight (CIF) basis.
The offer comes on top of May-July barrels that PV Oil has
already sold to Shell, Mitsui, Petrosummit, Itochu, Glencore,
Gunvor, Petrodiamond and Trafigura. Vietnam plans to charter
some tankers to store Bach Ho crude following an outage at the
country's sole refinery, trade sources said.
- Indonesia's BPMIGAS issued a term tender offering Duri
crude for loading from June 2012 to May 2013. Buyers can opt to
lift 200,000-450,000 barrels of the heavy sweet crude each
month. The tender will close on May 28.
The regulator last sold Duri crude for loading between
December 2011 and May 2012 at a premium close to $5 a barrel to
ICP.
- Weak naphtha cracks and an ample supply of light sweet
crude weighed on Kidurong crude. Petronas sold 300,000 barrels
of Kidurong crude to load on July 27-31 to a trader at about $1
a barrel above dated Brent, about $1 lower in premium than June.
- PV Oil likely sold 250,000 barrels of Rang Dong crude to
load on July 13-19 to Shell at a premium between $2 and $3.50 a
barrel to the Minas formula.
- Taiwan's CPC has awarded an unusually large import tender
for nearly 6 million barrels of Angolan crude oil ahead of the
expected start of a new residual fluid catalytic cracker this
summer.
CPC will buy four cargoes of Angola's Cabinda grade and two
cargoes of the Nemba grade from Unipec, Total, Chevron and
Sonangol for July loading, traders said.
- Russia's Rosneft offered 730,000 barrels of ESPO for July
20-23 loading in a tender that will close on May 29.

* TRADES
- ExxonMobil sold the sole Kutubu cargo for July to
Petrobras at a premium of about $4 a barrel to dated Brent,
stable from the previous month. The light sweet grade is
supported as only one cargo is available.
- Petronas sold a second Labuan cargo for July at about
$8.80 a barrel above dated Brent, a premium close to the first
cargo sold in a tender, on robust demand for the grade which has
a high yield of middle distillates and vacuum gasoil. Petronas
may offer a partial cargo, its third in July.

* MARKET NEWS
- An increasing number of forecasters expect Brent crude to
average less than $100 a barrel next year because of downward
pressure from Europe's debt crisis, a slowdown in Chinese
economic growth and hopes for a resolution of the Iranian
nuclear crisis.
- Japan's top oil refiner, JX Nippon Oil & Energy Corp, shut
the 189,000 barrel-per-day crude distillation unit (CDU) at its
Kashima refinery north of Tokyo on Monday due to a glitch in
operations.

CRUDE Price Prev Change
JULY Brent 107.07 105.26 1.81
JULY Brent/Dubai EFS DUB-EFS-1M 3.80 3.63 0.17

PRODUCT CRACKS Price Prev Change
JUNE fuel oil crack -2.44 -3.08 0.64
JUNE gasoil crack 15.43 15.97 -0.54
JULY naphtha crack -11.96 -11.93 -0.03

COMPLEX REFINERY MARGINS
Today 7.34
Last 5 days 6.38
Last 365 days 7.53
Source