India Business Forum

Search Button

The Indian Express

The Financial Express

Latest News

EIW

Market Indicators

Screen

Boulevard India

Celebrity Chat

Express Computers

Express Power

Letters

Advertisers Forum


Headstart

Business Forum

Match Makers

Express Properties

Palki - Travel & Tours

Information Technology

Astrosurf

Eco-India

Dr Know

Morning Digest

Express Greeting

Graffiti

Drumbeat: Ad Buzzaar


FINANCIAL EXPRESS FRONT PAGE

Corporate

Economy

Expressions

Markets

Leisure

 

Thursday, October 29, 1998

Asia crude quiet, thin market ahead of IOC 

REUTERS  
Tokyo, Oct 28: A wait-and-see mood gripped the Asian spot market on Wednesday ahead of India's supplementary tender to buy December crudes, traders said.

"It's very quiet and I don't think there've been any fresh deals done," one trader with a Japanese trading company said.

India's second tender to buy December-loading crude cargoes closes on Thursday and is valid until Friday.

IOC has already purchased December barrels in a tender which closed on October 15.

Key Abu Dhabi crude grades are usually in demand during the winter season, but discussion in the light crude grades remained general with sellers aiming for a small premium over the official selling price compared to a discount market for November barrels. Details of some deals believed done last week emerged in the market.

These included one November Qatar Land cargo, about 200,000 barrels in volume, believed exchanged between two European majors. The same majors are believed to also have traded 500,000 barrels of December Qatar Land.

Thebuyer of the two cargoes is also believed to have purchased 200,000 barrels of December Qatar Land from a Japanese trading company.

The level of the deals was not immediately available.

Elsewhere, a South Korean refiner was believed to have sold 500,000 barrels of December Dubai to a Western trader.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


Top


The Ambassador Group of Hotels

Global Tenders invited by MSTC

The National Stock Exchange of India (NSE)

 

Click here for a printer-friendly page Printer-friendly page

One of India's Leading Banks


The Indian Express  |  The Financial Express  |  Latest News
Screen  |  Express Investment Week  |  Market Indicators  |  Express Computers
Astrosurf  |  Eco-India  |  Travel & Tourism  |  Information Technology  |  Drumbeat: Ad Buzzaar
Advertisers Forum  |  Career India  |  Business Forum  |  Match Maker  |  Express Properties