Middle East

　Abu Dhabi National Oil Co (ADNOC) in the United Arab Emirates (UAE) set the new Murban OSP at a premium of 85cts to Dubai quotes, down 90cts from the previous month. The decline came after Saudi Arabia state-owned Saudi Aramco earlier reduced the September-loading OSP formula for the Arab Extra Light (AEL) and spot deals for September-loading Murban were earlier traded at discounts of 70-80cts to OSP.

Africa/Europe/Russia/America

　Spot differentials for October-loading Sakhalin Sokol flipped into negative territory. While crack margins in Asia worsened, demand was weak, putting a downward pressure on the Sokol market. India's Oil and Natural Gas Corp (ONGC) sold a Sokol cargo for Oct 10-16 loading via its second October-loading Sokol sell tender closed on Thursday. The buyer was China National United Oil Corp (Chinaoil) and the price was at a small discount to Dubai quotes. In addition, Japan's INPEX Corp and Japan Petroleum Exploration Co Ltd (JAPEX), equity holders in Sakhalin Oil and Gas Development Co (SODECO), sold one cargo each of Sokol at the same time of ONGC's additional sell tender noted above. The buyers were traders and the prices were apparently at flat to discounts of 10cts to Dubai quotes.

Asia Pacific

　Spot differentials for September-loading Malaysia's Kimanis dipped. Refining margins for oil products like gasoil were worsening, while slides for Sakhalin Sokol and Vietnamese grades, grades some end-users considered as rival grades for Kimanis, dented evaluations for Malaysian grades. Royal Dutch Shell heard offered one cargo of Kimanis for October-loading at a premium of $2.20 to Dated Brent. But interest from buyers was lukewarm. "The tradable levels may be at premiums of slightly narrower than $2.00 to Dated Brent," said a trader in Singapore.