Qatar sells June condensate cargoes at lower premiums – sources
Qatar Petroleum has sold two cargoes of condensate loading in June at lower premiums than the previous month, two trade sources said.
QP sold one cargo of deodorised field condensate (DFC) to Hyundai Oilbank at $4.60-$4.70 per barrel above Dubai quotes, down from premiums of about $5 in the previous month, they said.
It also sold a low-sulphur condensate (LSC) cargo to Hanwha Total at $3.75-$3.80 per barrel above Dubai quotes, they said.
That is down from May sales of $4-$4.50 per barrel.
South Korea’s robust demand for condensate to replace falling imports from Iran has cooled as buyers such as SK Incheon Petrochem are turning to light crude as substitute.
Source: Reuters (Reporting by Florence Tan; Editing by Christian Schmollinger)