Middle East

State-run Qatar Petroleum (QP) sold November-loading Al Shaheen in its tender closed on Sep 14. Out of three cargoes offered in the tender, one cargo for Nov 1-2 loading was awarded to China International United Petroleum & Chemical (UNIPEC) at a premium of $1.60 over Dubai quotes. The other two cargoes for Nov 24-25 and 25-26 loading were sold to PetroChina at a premium of $1.50.

Africa/Europe/Russia/America

Spot differentials for East Siberian ESPO Blend for November loading widened to premiums in the range of $4.60-4.70 over Dubai quotes. The market was lifted by improving crack margins for gasoline and the outlook for recovering demand from key importing country China. Russian producer Surgutneftegas sold three 740,000bbl cargoes for Nov 11-18, 14-21 and 18-25 loading in its second sell tender for November-loading ESPO closed on Sep 16. In its sell tender, European trader Mercuria secured two cargoes for Nov 11-18 and 18-25 loading and a Japanese trading house bought a cargo for Nov 14-21 loading. The prices were at premiums of mid to high-$4s to Dubai quotes. The buyers were believed to have taken those cargoes on behalf of Chinese end-users.

Asia Pacific

Spot differentials for November-loading Vietnamese Chim Sao widened to premiums of $2.45-2.55 to DTD Brent. Amid decline in supply for Malaysian grades, demand for Vietnamese grades as alternatives increased. Vietnam's state-run PV Oil sold Chim Sao for Nov 11-15 loading in its sell tender closed on Sep 15. The buyer was US ExxonMobil and the price was said to be at a premium of $2.50 to DTD Brent.