Traders said a Japanese refiner bought a cargo of February Qatar Marine crude from a Japanese trader at 19 cents per barrel below the official QGPC price.

But subsequent trades of the crude were done at narrower discounts to QGPC as buying interest surged. Traders said a US major bought a cargo from a western trader at QGPC -15 cents and a second cargo from a European major at QGPC -13.

A Japanese refiner also sold 300,000 barrels of February Qatar Marine at QGPC -10 cents, they said. There was talk that a Japanese trader had done two trades of February Qatar Marine, to a Japanese refiner at QGPC -5, and apartial cargoe likely to a South Korean refiner at QGPC -7, but the trades could not be confirmed.

On Qatar Land crude, a 200,000 barrel parcel for February was sold at a 10-cent discount to the QGPC price by a Japanese trader to a Japanese refiner.

The refiner was believed to have swapped an Abu Dhabi Murban cargo for Land with a European major at an unknown level.

The February Oman market was also supported as refiners in Thailand and South Korea emerged to buy cargoes early in the month. Traders said 9,00,000 barrels of February Oman was sold to a Thai refiner. Details of the trade could not be confirmed, although traders said a Japanese trader and a Chinese trader were possible sellers at a price of around two cents per barrel over the official MOG price.

A South Korean refiner bought an Oman cargo at a stronger three-cent premium over the MOG price, although the seller was not immediately known, traders said.

Last week, the first February Oman cargoes were traded at one cent per barrel over theMOG price to supply Malaysia's new 100,000-barrel-per-day Malacca refinery.

On the regional grades, traders said up to 10 bids were submitted into Vietnam's tender to sell February Bach Ho, at premiums between 10 to 20 cents per barrel over the official selling price (OSP).

The Singapore gas oil swaps values rebounded in late Monday trade but discussion was thin across the barrel, traders said. Traders said they expected trading to remain in a lull as many fence-sat in absence of a clear market direction. "Some guys are away while the others are looking for something drastic to happen before moving," one trader said.

Brokers said January gas oil swaps prices, which started the day at $12.80/$13.10 for January, had moved up to $13.00/$13.15 in discussion, although no trades were concluded. "Buyers are coming back up a bit on crude but market is still dead quiet," one broker said.

Nymex access crude prices rose, recovering losses made during the last trading day before Christmas on Thursday. Up to 0900GMT, February West Texas Intermediate (WTI) crude was trading around $11.34 per barrel, up 11 cents over Thursday's close.

This pushed the gas oil market back to the same levels it where it was last actively discussed on Thursday. The swaps markets were closed on Friday due to the Christmas holiday.

February gas oil paper was last quoted notionally five cents higher at $13.05/$13.20 on the back of January/February spreads, brokers said.

Fuel oil swaps prices were also steady compared to Thursday at $64.00/$64.50 per tonne for January and at $63.00/$63.50 for February, brokers said.

"Everybody's looking at fuel oil to go higher but nobody wants to get off their horses," one broker said. Brokers expected support to come in only after the late physical cash market on Monday.

Singapore fuel oil physical cargoes were traded firmer at $65.00 in pre-Christmas trading Thursday, when a Singapore trader bought a 180-centistoke cargo, for lifting January 19-23, from a US major.

The market was tightening updespite previous arbitrage of extra-regional cargoes due to strong regional demand from China and Indonesia, traders said.