Middle East Crude

On the Rim Trading Board (RTB) as of 15:03 Tokyo time on November 6, European Trafigura showed a bid for 500,000barrels of Das for Jan 1-28 loading 2026 at premiums of $1.00 to Dubai quotes. Trafigura raised its offer to premiums of $1.10 to Dubai quotes as of 15:09. The company further lifted its offer to premiums of $1.15 to Dubai quotes as of 15:19. Nevertheless, no buyers appeared on the RTB. Meanwhile, in after-hours trading on the RTB, Mercuria Asia Resources offered 500,000barrels of Das for Jan 1-28 loading 2026 at premiums of $1.50 to Dubai quotes.

African/European/Russian/American Crude

In trade for December-loading Angolan grades, Sonangol sold Girassol although details such as the price and the buyer were unknown. Sonangol had offered the cargo at premiums of $1.5 to Dated Brent earlier this week as reported. Meanwhile, Sonangol showed an offer for December-loading Nemba at premiums of 50cts to Dated Brent. In trade for Nigerian grades, India's Hindustan Petroleum Corp (HPCL) moved on spot purchase. HPCL closed a buy tender for January arrival on November 6 at 9:00 Vietnam time. Through the tender, HPCL was seeking a total of two cargoes (each 2mil barrels) for Jan 7-15 arrival and Jan 17-25 arrival. HPCL could buy Bonny Light and other light grades.

Asia Pacific Crude

A supply program of January-loading NWSC was settled, with a total of two cargoes--in line with the usual monthly volume. Briton's BP would handle one cargo for Jan 4-8 loading while Australia's Woodside would have one cargo for Jan 21-25 loading. Tradable levels for January-loading NWSC were believed to be lower than those for December-loading. Petrochemical margins were unlikely to recover, and thus demand for naphtha would remain limited. Besides, Saudi Aramco would start produce Jafrah condensate this year and the supply of Jafrah condensate would slacken supply/demand fundamentals for January-loading regional condensates including NWSC.