SINGAPORE: Middle East crude benchmarks firmed on Tuesday ahead of purchase tenders from CPC and Formosa Petrochemical in Taiwan as well as Thailand's PTT.
However, Fuji Oil did not award its tender to buy an August-loading Upper Zakum crude, traders said.
Iraq's SOMO will also close on Wednesday a tender to sell 1 million barrels of Basra Heavy crude to load on July 8-10.
RUSSIA: More Russian crude cargoes sold at lower premiums after China's demand slowed and as north Asian refiners turned to alternatives such as CPC Blend and WTI.
Surgutneftegaz has sold two cargoes of ESPO crude for loading on Aug. 2-7 and 6-11 at premiums of $3.90-$4.00 a barrel to Dubai quotes, traders said.
Zhenhua Oil and Lukoil may have bought the cargoes, they said.
Several July-loading ESPO cargoes remained unsold after Chinese independent refiners slowed purchases on low margins and high crude inventories, the sources said.
Surgut last sold July-loading ESPO crude at premiums of $4.10-$4.50 a barrel.
Exxon Mobil has sold two of the three Sokol crude cargoes offered via a tender at $4.50-$4.70 a barrel above Dubai quotes, they said.
The company offered cargoes to load on Aug. 10-13, 17-20 and 27-30.
SODECO was also heard to have sold a Sokol cargo via a tender at $4.50-$4.60 a barrel above Dubai quotes.
ASIA-PACIFIC: BHP will close on Wednesday a tender to sell August-loading Pyrenees crude.
For condensate, Chinese petrochemical producer Fuhaichuang has issued a tender seeking low-sulphur condensate cargoes to be delivered between September and December, a tender document reviewed by Reuters showed.
The tender will remain open until the company has purchased enough cargoes to meet its demand, a source familiar with the matter said, adding Fuhaichuang may buy up to three cargoes.
Spot discounts for North West Shelf (NWS) condensate BFO-NWS for August-loading have widened because of weak naphtha margins, trade sources said.
Woodside and BHP have sold a cargo each at discounts between $5 and $5.50 a barrel to dated Brent, they said, from about $2 from the previous month.
Woodside's cargo will load on Aug. 5-9, while BHP's cargo loads on Aug. 28-Sept. 1.
Separately, BP has likely sold its cargo loading on Aug. 13-17 to Indonesia's TPPI at $3.70-$3.80 a barrel below dated Brent on a cost-and-freight (C&F) basis, one source said.
Woodside has also sold its Wheatstone condensate cargo loading in August although details remained sketchy.
WINDOW: Cash Dubai's premium to swaps rose 14 cents to $2.31 a barrel after Shell bought 14 August Dubai partials in the Platts window.
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