Activity on Asian crudes lackluster<\/p>\n
SINGAPORE (Reuter): Activity on Asian crudes was lackluster,
\nwith light grades under some pressure on ample supplies.<\/p>\n
A seller cut its offer price of 300,000 barrels of July Belida
\nto ICP +20\/25 cents per barrel, down from its earlier offer at
\nICP +30.<\/p>\n
But most other July Belida supplies allocated to two
\nIndonesian affiliates were already committed to South Korea and
\nto term buyers, traders said.<\/p>\n
A western trader sold July Minas on Thursday at just under ICP
\n+20.<\/p>\n
The seller would not comment on the buyer, but denied rumors
\nthat it was China.<\/p>\n
Middle East crudes were active, with August Masila and Dubai
\ncargoes traded.<\/p>\n
A Japanese refiner bought two cargoes of August Masila, from a
\nwestern trader at OSP +17 with guaranteed dates and possibly from
\na major at OSP +14.<\/p>\n
Two cargoes of August Dubai were also heard sold to Malaysia
\nby two European majors.<\/p>\n
One cargo was heard at August whole month quotes -2\/3, while
\nthe second was at July quotes +2.<\/p>\n
The overhang in the July market was clearing up, as the last
\nJuly cargoes were starting to find homes.<\/p>\n
A European major heard sold two July Lower Zakum cargoes, to a
\nJapanese refiner at an unknown price and to a Korean refiner at
\nDubai +60, which traders considered a low level.<\/p>\n
Previous July Abu Dhabi crudes were done at above Dubai +70.
\nTrading on West African crudes was winding down as refiners had
\ncovered most of their requirements for July loading cargoes.<\/p>\n
A Korean refiner confirmed buying its first cargo of Gulf of
\nSuez, although cargoes have been taken by other Korean refiners.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/activity-on-asian-crudes-lackluster-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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