Gas oil price at 5-year high<\/p>\n
SINGAPORE (Reuter): Singapore gas oil traded yesterday at a
\nfive-year high of $30.00 per barrel on expectations of renewed
\nbuying interest from China and Indonesia, traders said.<\/p>\n
Traders said Shell Singapore sold 150,000 barrels loading Oct.
\n27-31 to a Japanese trading house and another buyer was seen for
\na November cargo at US$29.85 per barrel.<\/p>\n
The sale comes on talk of the emergence of limited buying from
\nChina. Traders said China bought at least three cargoes recently
\nfor arrival in end October or early November at between $227-$230
\nper ton cost-and-freight.<\/p>\n
They also said majors in Hong Kong were importing increased
\nvolumes for barge-lot sales on ex-terminal basis to traders who
\nare exporting to China.<\/p>\n
The market also firmed on talk of new buying from Indonesia
\nwhich is not operating its 200,000-bpd Cilacap crude unit at full
\ncapacity, traders said.<\/p>\n
Ample jet fuel offers were seen for late October cargoes at
\n$30.50 but buyers were targeting $29.75.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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