ONGC sells January-loading Russian Sokol crude at 22-mth high premium
Indian explorer ONGC Videsh has sold a cargo of Russian Sokol crude for loading in January at the highest premium in 22 months on robust demand in Asia, trade sources said on Monday
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SINGAPORE (Reuters) - Indian explorer ONGC Videsh has sold a cargo of Russian Sokol crude for loading in January at the highest premium in 22 months on robust demand in Asia, trade sources said on Monday.
The 700,000-barrel cargo was sold at a premium of about $7.50 a barrel to Dubai quotes, the highest since trades registered in January 2020, according to the sources and data on Refinitiv Eikon.
Itochu bought the cargo loading on Jan. 8-14, they said.
ONGC last sold Sokol cargoes for December loading at $5.30-$5.90 a barrel.
(Reporting by Florence Tan; Editing by Tom Hogue, Kirsten Donovan)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Nov 15 2021 | 2:34 PM IST