Middle East

In tender related news, China's Rongsheng Petrochemical and Fuji Oil appeared to have eventually skipped issuances of Middle East crude buy tender for October-loading. Both of the companies normally floated monthly sour tenders, but they no longer need to buy Middle Eastern crudes via tenders after they purchased cheap priced US Mars. Supplies for Mars increased, following US move to release oil from the Strategi Petroleum Reserve. Several end-users purchased Mars at premiums of around $1.30 to Dubai quotes on a CFR basis.

Africa/Europe/Russia/America

The CFR Northeast Asia market of US WTI fell to premiums of $3.30-3.40 to Dubai quotes. The market weakened amid expectations of rising supplies following a decision by the US government to release oil from the Strategic Petroleum Reserve (SPR), Taiwan's CPC Corp purchased 2.00 mil bbl of WTI in its November arrival sweet crude buy tender closed on Aug 25. The price was said to be at a premium of $1.00-1.50 to Dated Brent on a CFR basis. The price was seen equivalent to premiums of $3.10-3.60 t Dubai quotes.

Asia Pacific

In trade of October-loading Australian condensates, Australia's Woodside sold Wheatstone and Pluto. The details of the buyers were unclear but the price for Wheatstone was said to be at a premium of close to mid-$1s to DTD Brent, while Pluto was sold at a premium of around $1.00 to DTD Brent.