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Asia-Pacific Crude-Holds as Malaysian crude trades at steady price

Published 31/08/2018, 07:04 pm
© Reuters.  Asia-Pacific Crude-Holds as Malaysian crude trades at steady price
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SINGAPORE, Aug 31 (Reuters) - The Asia-Pacific crude oil market remained steady on Friday as Malaysian crude Bertam trades at a similar level to the previous month, trade sources said.

MALAYSIA

* Malaysia's Petronas sold 350,000 barrels of Bertam crude for loading over Oct. 12 to Oct. 16 to Vitol at a premium of about $3.50 a barrel to dated Brent, industry sources said.

It last sold a September-loading Bertam crude oil cargo at more than $3 a barrel to dated Brent, traders said.

BRENT-DUBAI EFS

* Brent's premium to Dubai swaps DUB-EFS-1M was at $2.35 a barrel for October, down 6 cents from the previous session.

NEWS

* Imports of Iranian crude oil by major buyers in Asia hit a 10-month high in July, as only South Korea lowered imports ahead of upcoming U.S. sanctions on Tehran, government and ship-tracking data showed. Japan's crude oil imports last month dropped 12.8 percent from a year earlier to 2.92 million barrels per day, or 14.4 million kilolitres, the lowest volumes for the month of July since 1985, monthly data from the trade ministry showed on Friday. OPEC and non-OPEC oil producers will aim to formalise their long-term cooperation later this year by approving a charter that will make possible further joint action on output, according to a draft charter seen by Reuters. Texas oil production fell in June from a year earlier for the first time in 16 months, according to figures released on Thursday by the state's energy regulator, a fresh sign that a lack of pipeline space in the nation's largest shale field may be curbing production. Second-quarter profit at PetroChina Co 601857.SS , China's largest oil and gas producer, more than doubled from a year earlier to 16.94 billion yuan ($2.48 billion), according to Reuters' calculations based on first-half results released on Thursday. 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

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