SINGAPORE: The Asia-Pacific crude oil market remained firm on Wednesday with the few remaining cargoes for loading in November trading at stronger differentials from the previous month, trade sources said.
INDONESIA
Indonesia has set the official Indonesian Crude Price (ICP) for Minas crude oil at $75.38 a barrel for September, up $5.36 from the previous month, a document from the Ministry of Energy and Mineral Resources showed on Wednesday.
The alpha, or price difference to dated Brent, for Minas in June was set at minus $3.47 a barrel.
The increase in Indonesian crude price is in line with a rise in global oil prices, the ministry said separately.
EAST TIMOR
ConocoPhillips has sold 650,000 barrels of Bayu Undan condensate at a discount of about 70 cents to $1 a barrel to dated Brent, trade sources said.
The cargo is for loading over Nov. 18 to 24 and the buyer could not immediately be confirmed.
An October-loading partial Bayu Undan condensate last sold at a discount of about $1 a barrel to dated Brent, traders have said.
AUSTRALIA
The last Enfield cargo which will load in November has been sold in the spot market, trade sources said.
Japan's Mitsui likely sold the cargo to a Japanese utility, one of them said. Price details could not immediately be confirmed.
Woodside Petroleum said last month that it will load its last Enfield crude oil cargo in November as the Australian field reaches the end of production. Mitsui holds 40 percent stake in the field.
VIETNAM
Vietnam's PV Oil may have sold a November-loading Dai Hung cargo at a premium of about $4.30 to $4.50 a barrel to dated Brent, an industry source said, though this could not immediately be confirmed.
PV Oil also sold 200,000 barrels of Song Doc for loading over Nov. 20 to 26 at a premium of about $4 to $4.50 a barrel to dated Brent, a second source said.
Comments
Comments are closed.