RIM Market News >  Weekly Summary

Crude/Condensate: Aug 5-9: Wonfull buys Oman, Djeno for Oct arrival

2019/08/12 07:00

Middle East


For Abu Dhabi crudes, the July-loading OSP for Murban was settled at a premium of $2.90 over Dubai quotes, down 19cts from the previous month. Meanwhile, the September-loading OSP formula for Saudi Arabian Arab Extra Light (AEL) was unveiled at a premium of $1.70 over the Dubai/Oman average, down a whopping 95cts on month. The OSP differential between Murban and AEL widened sharply to $1.20 in favor of Murban. But market players widely believed October-loading Murban would attract certain demand amid thin extra availability for AEL.




Among African crudes, China’s Shandong independent refiner Wonfull Petrochemical purchased Congo’s Djeno for October arrival, together with Middle Eastern Oman. The price for Djeno was at a premium of around $4 over ICE Brent on a DES (delivery ex-ship) basis. In condensate related news, China’s Fuhaichuang Petrochemical, formerly known as Dragon Aromatics, procured Equatorial Guinean Alba, Russian Yamal and North Sea Ormen Lange for September arrival.


Asia Pacific


With regards to Vietnamese crudes, the country’s state-run PV Oil awarded its sell tender for September-loading Thang Long to South Korea’s SK Energy. The price was at a premium of the mid $3 level over DTD Brent. For Indonesian crudes, September-loading Duri could have been traded as a blending stock for low-sulfur bunker fuel. In condensate-related news, September-loading Australian Wheatstone changed hands to Royal Dutch Shell and Emirates National Oil Co (ENOC) in the United Arab Emirates (UAE). Meanwhile, Shell was likely to take back September-loading Australian Prelude to its own refinery.


Tokyo : Crude/Condensate Team  Katsuhiko Karino  +81-3-3552-2411
Copyright©2019 RIM Intelligence Co. ALL RIGHTS RESERVED.
facebook      twitter

About SSL?