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Weekly Summary

Crude/Condensate: Apr 21-25: Taiwan CPC buys 4.0 mil WTI Midlands

Middle East Crude

 In other trade for June-loading Abu Dhabi grades, SK Energy purchased 500,000barrels of June-loading Umm Lulu. The seller was Austria's OMV and the price was believed at premiums of about $1.90 to Dubai quotes. SK Energy held stable demand for Umm Lulu every month and advanced spot purchase of Umm Lulu.

 

Asia Pacific Crude

 In the trade of US grades bound for Asia, Taiwan's CPC Corp purchased a total of 4.0 mil bbls of WTI Midlands in its July arrival sweet crude buy-tender closed on Wednesday. The sellers were said to be Norway's Equinor and Saudi Arabia's Aramco Trading and the prices were heard at premiums of mid $3.00s to Dated Brent on a CFR basis. The price was seen equivalent to a premium of $3.30-3.50 to Dubai quotes on CFR.

 

African/European/Russian/American Crude

 In trade for June-loading Australian condensates, INPEX sold Ichthys condensate via a tender to one end-user in Northeast Asia and the price was heard at premium levels to Dated Brent. Through the tender with validity until last Friday, INPEX was trying to sell one cargo for Jun 13-17 loading. Meanwhile, INPEX had Ichthys condensate for Jun 24-28 loading and would float a sell tender in a few days. Some end-users in Southeast Asia and Northeast Asia were likely to participate in the tender.

 


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