Middle East Crude

India's Hindustan Petroleum Corp purchased 2.0 million barrels of Abu Dhabi Das from European Vitol on a CFR basis in a tender for February to March arrival closed on Tuesday. The cargoes were awarded at a premium of high $2.00s to Dated Brent. Several market sources such as South Asian companies had initially expected that HPCL would buy Murban in the tender this time. But "HPCL apparently regarded Das prices as more attractive than Murban and moved to buy Das," said a South Asian company.

African/European/Russian/American Crude

In other tender-related news, Taiwan's CPC Corp bought a total of three cargoes of WTI Midland via a tender for March arrival. The sellers were US Occidental, US Chevron and European Trafigura. The prices of these cargoes were at premiums in the high $4's to Dated Brent. Through the tender floated last week, CPC was trying to buy sweet crude oil for March arrival.

Asia Pacific Crude

Vietnam's PV Oil awarded a sell tender for February-loading Chim Sao to PV Oil Singapore as reported. PV Oil Singapore sold the cargo to Australia's Ampol. The price was said to be at a premium of mid $6.00s level to Dated Brent. Ampol appeared to have initially considered buying arbitrage cargoes. But with freight rates staying high, the company opted to buy the short-hauled cargo of Chim Sao.