Qatar sells Nov-loading al-Shaheen at higher premiums vs Oct – sources

SINGAPORE, Sept 16 (Reuters) – Qatar Vitality has offered two cargoes of al-Shaheen crude loading in November at premiums between $4.50 and $5.50 a barrel to Dubai quotes by way of its month-to-month tender, two commerce sources stated on Friday.

That compares with the premiums at about $3.6 to $4.1 for October-loading cargoes offered by way of its tender final month, their lowest degree in 4 months.

Spot premiums for Center East crude climbed since late-August, because the market expects demand restoration from Japan and South Asian nations as soon as refineries resume from upkeep and monsoon season. Whereas issues linger about potential international provide tightness amid the power standoff between Russia and western nations.

Vitol and ExxonMobil have seemingly purchased the cargoes to load on Nov. 2-3 and Nov. 28-29, the sources stated.

Qatar Vitality set the November time period worth for al-Shaheen crude at a premium of $5.35 a barrel after the tenders had been awarded, they stated, up from $4.06 within the earlier month.

Reporting by Muyu Xu and Florence Tan; Enhancing by Himani Sarkar and Sherry Jacob-Phillips

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