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Asia Crude-Qatar sells April al-Shaheen at weaker premiums
February 15, 2013 / 9:56 AM / in 5 years

Asia Crude-Qatar sells April al-Shaheen at weaker premiums

SINGAPORE, Feb 15 (Reuters) - Qatar International Petroleum Marketing Co, or Tasweeq, sold seven cargoes of al-Shaheen crude for April loading at weaker premiums than the previous month, traders said on Friday.

Tasweeq sold al-Shaheen at $0.80 to $1.40 a barrel above Dubai quotes, traders said, adding that most were sold on top of the range. It had sold March cargoes in the $1.60-$1.90 range last month.

Traders said premiums were weaker as demand is expected to be lower from north Asian refiners which are heading into maintenance in the second quarter, as well as because of sharp cuts in official selling prices by producers.

Japanese refiner TonenGeneral Sekiyu, oil major Exxon Mobil and India’s Reliance Industries Ltd were among the buyers, sources said. Maersk this week sold April al-Shaheen at $1.1 to $1.2 per barrel over Dubai quotes in the spot market, traders said.

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