Russia’s Surgut sells more ESPO crude for March
Russia’s Surgutneftegaz SNGS.MM sold its remaining three ESPO Blend crude cargoes for loading in March at premiums mostly in line with the previous two tenders, trade sources said on Thursday.
Cargoes loading on March 17-24 and 21-28 were sold at premiums of around $5 a barrel to Dubai quotes while the last cargo loading on March 24-31 fetched a premium of $4.60-$4.70 a barrel, they said.
Vitol bought two cargoes while ChemChina purchased one, traders said.
Spot premiums for Middle East and Russian crude rebounded this month as they became more attractive to Asian buyers after Dubai benchmark prices weakened against Brent.
Surgutneftegaz sold five cargoes earlier this week at premiums of about $4.85 to just above $5 a barrel, the highest in two months.
Source: Reuters (Reporting by Florence Tan and Olga Yagova; Editing by Sherry Jacob-Phillips)