RTRS:Middle East Crude-Steady, all eyes on Tasweeq's tender
SINGAPORE, Oct 15 (Reuters) - The Middle East crude market
remained steady on Monday as traders awaited the outcome of two
tenders expected later this week for further trading cues.
Although winter demand was expected to support prices for
December loading crude, the steep rise in OSPs may result in
weaker premiums than November's multi-month highs, traders said.
Traders keenly waited for the results of the HPCL Oman
tender and Tasweeq's al-Shaheen tender.
The al-Shaheen cargoes may be sold at about $1-$1.50 premium
to the official selling price, traders said, weaker than the
$1.8-$1.9 premium it fetched last month.
*TENDERS
- Qatar International Petroleum Marketing Co, or Tasweeq, is
offering eight cargoes of December loading al-Shaheen crude. The
tender closed on Monday and is valid until Thursday, traders
said.
- A tender by India's Hindustan Petroleum Corp, seeking
700,000 barrels of prompt Oman crude, also closed on Monday and
is valid until Tuesday.
*MARKET NEWS
- Sudan expects to double its oil production in the next two
years, to 300,000 barrels per day, as it steps up oil
exploration, the country's petroleum minister said.
- Saudi Arabia produced an average of 9.77 million barrels a
day (bpd) of crude oil in September, an industry source said on
Monday.
- China, the world's second largest oil consumer, has set
its 2013 non-state crude oil import quota at 29.1 million
tonnes, the same as this year, the Ministry of Commerce said on
Monday.
CRUDE Price Prev Change
DEC DME Oman diff to Dubai 0.77 0.89 -0.12
NOV Brent 114.34 114.94 -0.60
DEC Dubai 109.64 110.20 -0.56
DEC DME Oman 110.41 111.09 -0.68
NOV Brent/Dubai EFS DUB-EFS-1M 4.17 4.20 -0.03
PRODUCT CRACKS
NOV fuel oil crack -8.94 -9.37 +0.44
NOV gasoil crack 18.84 19.12 -0.28
NOV naphtha crack -8.78 -8.16 -0.62
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