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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.
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