S'pore oil products steady, gas oil active<\/p>\n
SINGAPORE (Reuter): Singapore oil products prices were steady
\nyesterday with activity again centering on gas oil, traders said.<\/p>\n
Three deals were heard traded for end-July delivery at wide
\nranges. Two 150,000-barrel parcels were sold for July 26-30
\nlifting at US$25.25 per barrel fob Singapore, and another 150,000
\nbarrels were sold at $25.70 for July 23-27 lifting. But some
\ntraders said current levels of over $25.50 seemed overpriced.<\/p>\n
However, with European gas oil prices rising, traders expect
\nmore cargoes from the Mediterranean being diverted westwards
\ninstead of the east despite form prices here as well.<\/p>\n
Taiwan canceled its jet fuel import tender for August
\ndelivery, as offers were considered high. The tender received
\nover 10 offers, the lowest being around $199 per ton C & F.<\/p>\n
Traders said jet fuel prices were currently firm with a cargo
\nheard sold recently by a Mideast refiner to a European major at
\n15 cents a barrel over Singapore quotes, for second-half July
\nlifting fob Singapore.<\/p>\n
Taiwan's reformat purchase tender for August delivery was
\nawarded at low levels. Leaded was bought around $23.70 per
\nbarrel, while unleaded was awarded at $23.90 C & F basis. Offers
\nwere earlier heard above $24 per barrel, traders said.<\/p>\n
Physical fuel oil prices were stable while low sulfur waxy
\nresidue dipped 30 cents per barrel on thin demand and an
\nanticipated additional allocation from Indonesia. A South Korean
\nrefiner was heard to have surplus fuel oil for July lifting. Poor
\nChinese enquiries might cause the refiner to sell the cargoes in
\nthe Singapore market, said a trader. Chinese buyers were holding
\nback their purchases as they considered current prices to be too
\nhigh, a Chinese trader said.<\/p>\n
A Korean refiner was heard to be offering 200,000 barrels of
\nstraight run LSWR supplies for July lifting.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/spore-oil-products-steady-gas-oil-active-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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