RTRS:Middle East Crude-Demand for light crude to remain firm
SINGAPORE, Sept 26 (Reuters) - The Middle East crude market
was steady on Wednesday with traders expecting demand for
lighter grades to remain firm after trading for November loading
cargoes ended.
Buying by Japanese refiners pushed premiums on light crude
to multi-month highs last week, while those on heavy grades
softened by the end of the month, traders said.
Traders are awaiting official selling prices (OSPs) for
December cargoes and allocations by producers, which are due
next week, before they begin trading for the month.
*TRADES:
- Unipec sold five November Dubai partials at
$107.60-$107.80. Trafigura bought three partials, while Vitol
and Chinaoil bought the other two.
- Chinaoil also bought one November Dubai partial from SK
Energy at $107.65.
*MARKET NEWS
- South Korea's biggest oil refiner SK Energy loaded a
second cargo of crude in Iran last week, a government source
said on Wednesday, as Seoul resumes Iranian oil shipments after
a near two-month gap caused by a European Union ban on insurance
cover.
- Norwegian oil firm DNO has significantly increased its
exports from Iraqi Kurdistan since news of a deal between the
national and Kurdistan regional governments several weeks ago,
the company said on Wednesday.
- Cambodia is looking at building oil refining capacity to
feed local demand growing at about 10 percent a year, a
government official said on Wednesday.
CRUDE Price Prev Change
NOV DME Oman diff to Dubai swaps 1.44 1.31 -0.13
NOV Brent 109.59 110.59 -1.00
NOV Dubai 106.15 107.24 -1.09
NOV DME Oman 107.59 108.55 -0.96
NOV Brent/Dubai EFS 3.44 3.35 +0.09
PRODUCT CRACKS
OCT fuel oil crack -5.46 -5.26 -0.20
OCT gasoil crack +19.39 +19.31 +0.08
NOV naphtha crack -6.95 -7.53 +0.58
COMPLEX REFINERY MARGINS
Today 10.18
Last 5 days 9.36
Last 365 days 7.39