Surgut Awards Urals to Glencore; Angola Crudes Offered HigherSherry Su
No bids or offers were made for North Sea Forties and Russian Urals crudes for a second day. Angolan cargoes were offered at higher prices in spot market.
OAO Surgutneftegas sold via a tender 100,000 metric tons of Urals for loading on Aug. 4 to Aug. 5 from Ust-Luga on the Baltic Sea to Glencore Xstrata Plc, according to two traders with knowledge of the matter.
There were no bids or offers for Brent, Oseberg or Ekofisk. Reported crude trading typically occurs during the Platts window, which ends at 4:30 p.m. London time.
Brent for September settlement traded at $108.55 a barrel on the ICE Futures Europe exchange at the close of the window, compared with $108.52 in the previous session. The October contract was at $107.83 at the same time today, a discount of 72 cents to September.
The share of crude produced from Buzzard in Forties crude fell to 35 percent in the week ending July 14, from 42 percent a week earlier, BP Plc said on its website.
No buying or selling was evident in the Platts window for CPC Blend after Vitol Group and Eni SpA yesterday sold two cargoes at a premium of 65 cents a barrel to Dated Brent.
Urals in the Mediterranean rose to a premium of 77 cents a barrel to Dated Brent on July 10, the highest since at least July 1991, when Bloomberg started tracking the data.
No bids or offers were made in the Platts window. In the spot market, Exxon Mobil Corp. offered Angolan Girassol for Sept. 1-2 loading at $1.20 a barrel more than Dated Brent, and Pazflor for Sept. 1-2 at a discount of 35 cents, according to a Bloomberg survey of traders and brokers.
Chevron Corp. offered Kuito crude for Sept. 19-20 at $2.50 a barrel less than Dated Brent, the survey showed. All offers were higher than prices for August cargoes.
Indian Oil Corp. was allocated a Nemba cargo for Sept. 12 to Sept. 13 and a shipment of Saxi for Sept. 11 to Sept. 12 by Sonangol Holdings under a term contract, according to the survey.