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Crude/Condensate: Jul 1-5: INPEX sells first Australian Prelude cargo for Aug

2019/07/08 07:00

Middle East

 

Among Abu Dhabi crudes, the June-loading OSP for Murban was set at a premium of $3.04 over Dubai quotes, up 7cts from the previous month. Meanwhile, the August-loading OSP formula for Saudi Arabian Arab Extra Light (AEL) was unveiled at a premium of $2.65 over the Dubai/Oman average, down 55cts on month. The OSP differential between Murban and AEL flipped into 39cts in favor of Murban, comparing with a 23 gap in favor of AEL a month earlier.

 

Africa/Europe/Russia/America

 

With regards to African crudes, Malaysia’s state-run Petronas sold Sudanese Nile Blend for end-July loading to an end-user in China. The price was at a discount of $1.10-1.20 to DTD Brent. For Chad’s Doba, some cargoes were being reoffered following a closure of the Philadelphia refinery in US. In condensate-related news, Emirates National Oil Co (ENOC) in the United Arab Emirates (UAE) was found to have procured US Eagle Ford 55 for August arrival.

 

Asia Pacific

 

For Australian crudes, PTT Public Co in Thailand purchased Gippsland on behalf of the country’s petrochemical firm IRPC in its light sweet crude/condensate buy tender for September-October arrival. Meanwhile, Australian Santos sold August-loading Cooper Basin to European Vitol. In condensate-related news, Japan’s INPEX sold its first cargo of Prelude to European Trafigura for August loading.

 

Tokyo : Crude/Condensate Team  Katsuhiko Karino  +81-3-3552-2411
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