SINGAPORE, July 2 (Reuters) - Trade in the Asia-Pacific crude market was muted on Monday as traders awaited the outcome of PV Oil's Dai Hung tender.
Three North West Shelf (NWS) condensate cargoes loading in August are still available, traders said. Chevron (NYSE:CVX) has sold a cargo loading in early August at a wide discount of about $1.60 a barrel, they said. The discount has widened from an earlier sale of an August-loading cargo from BHP to Glencore (LON:GLEN) at 50-60 cents below dated Brent.
Separately, Malaysia has cut the official selling price of a basket of June-loading Malaysian crude oil grades OSP/MY to $78.23 a barrel, Petronas said in a document reviewed by Reuters on Monday.
The June price for the basket of Malaysian crude oil, which includes Labuan, Miri Light, Kikeh and Kimanis Blend, fell by $2.50 per barrel.
BRENT-DUBAI EFS
*Brent's premium to Dubai swaps DUB-EFS-1M was at $3.69 per barrel for September.
REFINERY
The owners of a long-closed oil refinery on St. Croix will disclose on Monday an agreement with the Caribbean island's governor to restart the plant and begin producing fuels late next year, according to people familiar with the talks. refinery would process up to 150,000 barrels per day (bpd) and supply low-sulfur fuels required by an International Maritime Organization mandate that begins in 2020, according to a U.S. Environmental Protection Agency review of the project.
MOVES: The world's largest independent oil trading house, Vitol, is hiring Mike Muller, the former head of crude oil trading at Royal Dutch Shell (LON:RDSa) and once one of Vitol's biggest rivals, a source familiar with the matter said. oil trader Michael Huang is expected to join Exxon Mobil Corp (NYSE:XOM) in Singapore soon as the U.S. major expands its trading team to sell its oil into China, the world's top importer of the commodity, three industry sources said. Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on close U.S. allies in an interview that aired on Sunday with a threat to sanction European companies that do business with Iran. Arabia has boosted supply to 10.70 million barrels per day in June, close to a record high, a Reuters survey found on Friday, a sign the kingdom wants to make up shortfalls elsewhere in the group and moderate prices. National Oil Corporation (NOC) said on Sunday that a port blockade by eastern authorities could result in losses estimated at 850,000 barrels per day (bpd) of crude oil and daily revenue of $67.4 million. supertankers chartered by energy major BP (LON:BP) have been held up or delayed off China's east coast over the last two months, unable to fully discharge oil as slowing demand from the country's private refiners starts to impact global markets. nL4N1TV4B3]
Iran will allow private companies to export crude oil, part of a strategy to counter U.S. sanctions, and is urging fellow OPEC members, including regional rival Saudi Arabia, not to break output agreements, state media and officials said on Sunday. prices look set to stay strong for the rest of this year and in 2019 thanks to supply disruptions and as extra oil from OPEC fails to meet rising demand, a Reuters poll showed. crude prices, oil product cracks and refining margins, please click on the RICs below.
Brent
BRENTSGMc1
Dubai
DUBSGSWMc2
Brent/Dubai EFS
DUB-EFS-1M
PRODUCT CRACKS
Fuel oil crack
FO180SGCKMc1
Gasoil crack
GOSGCKMc1
Naphtha crack
NAFOBSGCKMc1
Complex refining margins REF/MARGIN1