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ONGC sells 2nd Aug-loading Sokol crude cargo at lower premium than 1st -sources

ONGC Videsh has sold a second cargo of Russian Sokol crude loading in August at a lower premium than the previous cargo, two trade sources said.

* The producer sold the 700,000-barrel cargo for loading on Aug. 17-23 to Glencore at $4.70-$4.80 a barrel above Dubai quotes, they said, down from a premium of $5.40-$5.50 a barrel for the first cargo

* Companies do not typically comment on the commercial terms of such deals

* Russian crude premiums fell this month because of lower demand in Asia due to refinery maintenance and poor margins and as buyers turn to cheaper supplies from Kazakhstan and the United States, traders said
Source: Reuters (Reporting by Florence Tan; Editing by Joseph Radford)

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