SINGAPORE, Nov 21 (Reuters) - The Asia Pacific crude market was mixed on Wednesday with medium sweet crude grades supported by firm fuel oil and middle distillates margins, while light crude grades were weighed down by weak naphtha cracks, traders said.
VIETNAM
* Vietnam's PV Oil may have sold its January-loading cargoes at premiums of $4.05 to $4.40 a barrel to dated Brent, about 50 cents to $1 higher than December-loading cargoes, an industry source said, though the deal could not immediately be confirmed.
The buyers were heard to be Glencore (LON:GLEN) and Binh Son Refining, the source added.
Firm fuel oil and middle distillates margins are boosting prices for Vietnamese grades, trade sources said.
Fuel oil margins climbed to a record high on Tuesday, helping to boost overall refining margins. FUEL/A
BRENT-DUBAI
Brent's premium to Dubai swaps DUB-EFS-1M was at $1.22 per barrel, down 3 cents from the previous session.
NEWS
* The United States has moved to disrupt an Iranian-Russian network that sent millions of barrels of oil to Syria and hundreds of millions of dollars to indirectly fund militant groups Hamas and Hezbollah. Goldman Sachs (NYSE:GS) said in a note on Wednesday that it expects oil markets to remain highly volatile in the coming weeks.
Oil markets clawed back some ground on Wednesday after tumbling more than 6 percent the day previous day in heavy trading volumes. O/R
* Iraqi Deputy Oil Minister Fayadh al-Nema said on Wednesday that OPEC will work to stabilise oil markets, crude prices and supplies at its next meeting. India's crude oil imports in October rose to their highest level in at least more than seven years, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Tuesday. Saudi Aramco will sign five crude oil supply agreements with Chinese customers, it said in a statement on Wednesday, taking the volume of its 2019 China crude oil supply agreements to 1.67 million barrels per day. Industrial gas demand in North China is showing signs of a sharp slowdown as small manufacturers shut their doors or buy less gas, unable to cope with a drop-off in export orders and costs related to Beijing's pollution control and reform measures. 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
NAF-SIN-CRK
Complex refining margins REF/MARGIN1