Middle East Crude-Benchmarks edge up; Oct NWS condensate traded at discounts

  

SINGAPORE- Middle East crude benchmarks Oman and Dubai edged up on Wednesday, while some Asian crude and condensate grades were traded at spot discounts.

Russia's Gazprom Neft has sold one cargo of ESPO Blend crude, loading Oct. 4-14, at a spot premium of around 40-50 cents a barrel to Dubai quotes to ChemChina, sources said. 

Indonesia's Pertamina has bought three condensate cargoes - Sharjah, Snohvit and North West Shelf (NWS), for delivery in October this month, traders said. 

BP sold two October-loading NWS cargoes, with high mercury content, at deep discounts of above $6 a barrel to dated Brent, while Woodside sold one with normal mercury content at a discount of around $3.50 to dated Brent. 

Malaysia's Petronas has sold a cargo of Bunga Orkid crude, loading Oct. 12-18, at a spot discount to dated Brent via a spot tender, traders said.

REFINERY

Indian refiners processed 2.5% less oil in July compared to June, the first monthly fall since April, as renewed restrictions due to rising coronavirus cases stalled a recovery in fuel sales in the world's third largest domestic market. 

NEWS

The value of Saudi Arabia's June oil exports was down 55% year on year, a drop of $8.7 billion, official data showed on Wednesday.

Private Chinese oil refiner and petrochemical manufacturers Hengli Petrochemical Corp and Rongsheng Petrochemical Corp have each hired a new executive for its Singapore trading desk, company officials said on Wednesday. 

(Reporting by Shu Zhang; Editing by Amy Caren Daniel) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4)))


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