Asian Crude Prices Mixed, Tapis Up

Traders said a partial cargo of Lower Zakum was sold by a Japanese trader to a Japanese refiner at ADNOC +26 cents per barrel.

They said three parcels of December Bach Ho were traded in a range over the official selling price of +17 cents to +25 cents.

China took two of the parcels and a trader the third, market sources said. A producer sold a further cargo of December Masila crude to a South Korean refiner. The price was based one third on MPM, one third on Dubai and one third on dated Brent. The structure reflected a separate sale by the producer to another South Korean refiner earlier this week.

 

Benchmark Tapis rose 20 cents per barrel yesterday from Wednesday, based on paper levels. Discussion was minimal, although a major in Australia was still offering November Tapis at a floating price equivalent of about $1.00, traders said.