Asian crude prices steady

Asian crude prices steady

SINGAPORE (Reuters): Asia's crude prices were stable in thin
trading yesterday, with some sellers watching Indonesia's
potential purchases for September before offering their cargoes
on the spot market, traders said.

"Indonesia is in the process of buying September barrels, and
talking to some traders, so no one wants to show their cargoes
until they know exactly what Indonesia buys," said one trader.

Traders said they had not heard Indonesia conclude any
September purchases yet, but expected that Indonesia would take a
similar volume as August, which was close to its average monthly
crude imports last year.

In August, Indonesian state oil company Pertamina bought
around six cargoes of light sweet Malaysian and Australian
crudes.