Asian Crudes Slightly Down, Gulf Grades Firm

Traders said December Murban was sold by a European major at ADNOC 46 cents per barrel to a US major.

The two majors then exchanged a cargo of December Lower Zakum at ADNOC 55 cents, traders said.

These prices were 10 to 15 cents above price levels seen for November cargoes amid seasonal demand for light crudes yielding middle distillates.

Traders said 7,00,000 barrels of December Qatar Land were sold by a Japanese trader to a European major at QGPC 27 cents, seven cents per barrel higher than an earlier deal for December into South Korea. The December Oman market was steady with traders reporting deals at MPM 4 cents and MPM 5 cents, steady compared to recent deals.

 

Strong demand for Duri crude pushed the premium to 50 cents per barrel on buying from a South Korea refiner.