August 18, 2011 / 3:40 AM / 8 years ago

Asia Crude-Murphy sells Oct Kikeh at stronger premium

SINGAPORE, Aug 18 (Reuters) - Murphy Oil Corp sold 600,000 barrels of Malaysian Kikeh crude via a tender for October loading at a stronger premium than the previous month on firm distillates cracks, traders said on Thursday.

The cargo for Oct. 9-14 loading was sold to South Korean refiner SK Energy at a premium of between $7.20 and $7.30 a barrel to dated Brent, they said.

Heating demand for middle distillates usually peaks in the fourth quarter, encouraging refiners to process more distillates-rich crude, traders said.

Last month, Murphy sold a Kikeh cargo for loading in September to an oil major at a premium of between $6.50 and $7.00 a barrel to dated Brent. (Reporting by Florence Tan; Editing by Sugita Katyal)

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