Crude oil prices in Asia stable<\/p>\n
SINGAPORE (Reuter): Crude oil prices in Asia were stable amid
\nthin trade ahead of the Chinese New Year and Moslem Idul Fitri
\ncelebrations here next week. Uncertainty over ongoing talks
\nbetween the United Nations and Iraq continued to dampen trade.<\/p>\n
Cash April Brent was nationally pegged at US$17.10\/17.20 a
\nbarrel. On SIMEX, it was trading around $17.12 against the IPE
\nclose at $17.15 previously. Most traders expected the market to
\nstay range-bound, with April Brent trading at $16.90-17.25,
\nbarring fresh development from the UN-Iraq talks. April
\nBrent\/Dubai spread was at $1.20\/1.35, wider by 15-20 cents from
\novernight.<\/p>\n
Dubai market was barely underpinned by India's purchase tender
\nfor April barrels. The tender would close on February 28.
\nApril\/May Dubai spread was at 22\/28 cents backwardation while
\nMay\/June was at 15\/18 cents.<\/p>\n
Tapis paper was stable, with March at $18.75\/18.90 and April
\nat $18.10\/18.17. Malaysia continued to offer its 450,000 barrels
\nof March Miri at APPI Tapis plus $1.70. A potential bid was heard
\ntarget $1.50 premium.<\/p>\n
Premiums of April MidEast crudes fell amid weaker demand
\nduring the regional refinery maintenance period. Resale of term
\nOman by a S.Korean refiner further pressured the Oman market.<\/p>\n
Oman bids were now targeted at parity to the official selling
\nprice, while offers were at 6-7 cents premium. Overnight, a major
\nbought two April Oman at five cents premium.<\/p>\n
Buyers' premium for April Abu Dhabi Murban eased in tandem to
\nas low as 10 cents premium.<\/p>\n
Two Japanese traders continued to seek premiums for March
\nVietnam Bach-ho crude. A Chinese producer and a refiner sought
\nbids for February lifting Chinese Xijiang crude at APPI Minas-
\nrelated price. Traders said one to 1.5 million barrels of
\nIndonesian Minas were available in March from term contract
\nholders.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/crude-oil-prices-in-asia-stable-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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