RTRS:Middle East Crude-Qatar, Abu Dhabi keep Oct allocations intact
SINGAPORE, Aug 30 (Reuters) - Trading for October loading in
the Middle East crude market ended and the focus has shifted to
the new month, with Qatar and Abu Dhabi keeeping their supplies
to Asia steady.
Top producer Saudi Arabia and others in the region will
announce their official selling prices (OSPs) for September next
week and traders expect an increase over August, because of
higher refining margins and firm demand.
Buyers are also awaiting a tender to sell ESPO grade crude
from Russian producers, traders said.
ALLOCATIONS:
Qatar has notified at least one Asian buyer that it will
supply Marine and Land crude at full contracted volumes for next
month, unchanged from September levels, a source said.
Abu Dhabi National Oil Co (ADNOC) will also supply full
contracted volumes of four main crude grades to Asia, but
refrained from offering a "plus tolerance" option which allows
buyers to ask for 5 percent more or less than September's
contracted volumes.
* TRADES:
British Petroleum sold three October Dubai partials to
Trafigura at $110.20-$110.35 and one partial to Vitol at
$110.30.
* REFINERY NEWS:
- Japanese refiner Nansei Sekiyu said on Thursday it resumed
all marine berthing operations at its 100,000 barrels per day
Nishihara refinery in Okinawa on Wednesday after the passage of
a strong typhoon that brought heavy rain and strong wind from
Saturday to Monday.
*MARKET NEWS
- Analysts have raised oil price forecasts for 2012 and 2013
on supply concerns and expectations for a further round of
monetary policy stimulus, which could boost economic growth, a
Reuters poll found.
- South Sudan expects it will take four to six months to
resume oil production at blocks 3 and 7 at the oilfields in
Upper Nile state after a final agreement is signed with Sudan,
its oil minister said on Thursday.
- Japanese crude oil imports from Iran fell sharply in July,
but imports continued despite a halt in loadings by Japanese
buyers to avoid running foul of a European Union ban on insuring
cargoes from the Middle East nation.
- Norway's oil workers are demanding an even bigger bounty,
threatening strikes and chewing away at the competitiveness of
the key European supplier of oil and gas.
CRUDE Price Prev Change
OCT DME Oman diff to Dubai swaps +1.14 +1.02 +0.12
OCT Brent 112.99 111.95 +1.04
OCT Dubai 110.17 109.19 +0.98
OCT DME Oman 111.31 110.21 +1.10
OCT Brent/Dubai EFS 3.43 3.35 +0.08
