Spot prices for Indonesian heavy crude strengthen<\/p>\n
SINGAPORE (Reuters): Spot prices of heavy Indonesian crude
\nwere supported as the remaining July barrels fetched firm
\npremiums, traders said yesterday.<\/p>\n
An equity producer of heavy sweet Widuri was heard to have
\nsold 100,00 to 200,000 barrels to a Japanese trader for July, at
\n30 cents per barrel over the ICP.<\/p>\n
Traders said that most of the July supplies of regional crudes
\nhave already been committed, and the market was now waiting for
\nindications of August availabilities.<\/p>\n
The consortium producing the Vietnam Dai Hung field has issued
\na tender to sell 450,000 barrels of the medium sweet crude for
\nlifting Aug. 10-31.<\/p>\n
The tender closes July 9, and is valid for a day.<\/p>\n
In its last tender, the consortium awarded 700,000 barrels of
\nDai Hung for lifting in July to one of its own members,
\nMalaysia's Petronas, at a discount of 33 cents to Minas APPI
\nquotations.<\/p>\n
But trading in the August Middle East crude market was active,
\nalthough price levels of most grades, except for Qatar Marine,
\nsaw little improvement despite expectations of further reductions
\nin term liftings.<\/p>\n
Qatar Marine prices saw a slight improvement, as reduction in
\nQatar's July term volumes was only on Qatar Marine and not Qatar
\nLand, traders said.<\/p>\n
Two cargoes of Qatar Marine were heard traded, by a French
\nmajor to a Japanese refiner at Dubai -29 cents, and by a Japanese
\ntrader at QGPC -25 cents.<\/p>\n
Neither trade could be confirmed.<\/p>\n
Last week, Qatar Marine discounts to QGPC were closer to 40\/50
\ncents.<\/p>\n
Traders said a European major sold a cargo of August Murban at
\na discount of 10 cents to the ADNOC price to a Japanese trader,
\nslightly lower than the ADNOC -8.5 cents traded earlier for
\nAugust cargoes.<\/p>\n
A U.S. major was also heard to have bought an August cargo of
\nUmm Shaif at a 20-cent discount to ADNOC, while a European major
\nwas heard to have sold Lower Zakum to Kenya at ADNOC -12 cents,
\ntraders said.<\/p>\n
An August Dubai cargo was heard sold by a western trader to a
\nEuropean major at a 43 cents discount, traders said.<\/p>\n
In addition, the first September trade was heard done, a
\nFrench major selling a September Dubai cargo to a European major
\nat 25 cents under August quotations, traders said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/spot-prices-for-indonesian-heavy-crude-strengthen-1447893297",
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