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Middle East Crude-Nov al-Shaheen premium falls to 5-month low
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Asia crude oil: Key market indicators July 12-16 | Hellenic Shipping News Worldwide
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Asia crude oil: Key market indicators this week
Trade activity in the Asian crude oil market is likely to pick up pace for August-loading barrels amid a strong market sentiment, which remains largely supported by brightening demand cues as COVID-19 cases decline in key demand centers such as India.
August ICE Brent crude futures were pegged at $72.96/b at 0230 GMT June 14, 27 cents/b higher from the 0830 GMT Asian close on June 11.
Middle East crude The week ahead is likely to see an uptick in trade for August-loading crude through spot tenders by Middle East producers and Asian refiners. Eyes will be on the issuance of Qatar Petroleum’s Al-Shaheen tender this week with cash premiums in the tender expected to be higher than previous months given the stronger demand cues emerging from Asia.
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ICE June Brent crude futures was pegged at $63.05/b at 0309 GMT April 12, 34 cents/b higher from the 0830 GMT Asian close April 9.
Middle East crude The week ahead will focus on buy and sell tenders for Middle East crude, including Qatar Petroleum s Al-Shaheen tender, post issuance of official selling prices by the region s producers. In the week ended April 10, Saudi Aramco, Abu Dhabi National Oil Co and Qatar Petroleum issued OSPs for their respective crude grades. While Aramco raised prices for Asia-bound crude by 20-50 cents/b, ADNOC raised prices by 35 cents/b and Qatar by 5-15 cents/b. OSPs from Iraq s State Oil Marketing Organization and Iran s NIOC are now awaited.
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