June-loading Murban crude trades at premiums as Japan’s demand improves – sources
Spot differentials for June-loading Murban crude has flipped into premiums after Japanese refiner Fuji Oil bought three cargoes, trade sources said.
The refiner bought the cargoes at premiums of about 25 cents a barrel above its OSP – trader.
One of the cargoes was sold by PetroChina, a source said.
Market sentiment for June-loading sour crude improved as demand from Japan is expected to pick up as its refiners ramp up output after seasonal maintenance.
May-loading Murban crude traded at discounts of about 10 cents a barrel to its OSP last month.
Source: Reuters (Reporting by Florence Tan, Editing by Sherry Jacob-Phillips)