SINGAPORE, Nov 22 (Reuters) - The Asia-Pacific crude market remained steady, supported by firm middle distillates and fuel oil margins, trade sources said.
RUSSIA
Russia's Sakhalin Energy has sold two crude cargoes loading in late January to February at the lowest premium in more than a year as weak naphtha margins weighed, trade sources said on Thursday.
The producer sold the cargoes at premiums of $1.50 to $2.30 a barrel above Dubai quotes, they said.
One of the cargoes will load on Jan. 27 to Feb. 2 while the other will load in February.
BRENT-DUBAI
Brent's premium to Dubai swaps DUB-EFS-1M was at $1.20 per barrel, down 2 cents from the previous session.
Firm middle and heavy distillate margins are likely boosting demand for sour grades while light sweet crude grades could be weighed down by generally weak gasoline and naphtha margins.
NEWS
* U.S. crude oil stockpiles rose more than expected last week, building for the ninth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday. Oil and gas companies operating in Norway have raised their investment forecasts for 2019 to 175.3 billion Norwegian crowns ($20.6 billion) from 165.1 billion seen in August, a survey by the country's statistics agency (SSB) showed on Thursday. French oil and gas major Total TOTF.PA said on Thursday that product deliveries from three of its refineries in France had been hit by a strike. U.S. energy firms this week cut oil rigs for the first time in the three weeks as crude prices have fallen to their lowest in over a year. South Korea's S-Oil Corp, Hyundai Oilbank Co and Jier Shin Korea Co took part in a bid-rigging scheme that led to more than $100 million in overcharges to the U.S. military, according to two sources with knowledge of the matter. crude prices, oil product cracks and refining margins, please click on the RICs below.
BRENTSGMc1
Dubai
DUBSGSWMc2
Brent/Dubai EFS
DUB-EFS-1M
PRODUCT CRACKS
Fuel oil crack
FO180SGCKMc1
Gasoil crack
GOSGCKMc1
Naphtha crack
NAF-SIN-CRK
Complex refining margins REF/MARGIN1