October 22, 2019 / 1:54 PM / 22 days ago

Rosneft domestic oil tender prices plummet 15% on high freight rates

MOSCOW (Reuters) - Prices in Russian energy company Rosneft’s domestic oil tender <0#CRUDE-RU> for November supplies fell by around 15%, traders said on Tuesday, reflecting lower global prices and a jump in freight rates.

Spot market freight rates for crude cargoes from the Middle East to Asia have surged following U.S. sanctions on Chinese tanker companies.

Traders said the average price at the recent Rosneft tender fell to 20,801-20,896 roubles per tonne ($326.30-$327.79).

Sales volumes totaled 30,000 tonnes.

The traders said the prices are preliminary as they have not been confirmed by Rosneft’s pricing committee.

Rosneft usually does not comment on its tenders.

Reporting by Ludmila Zaramenskikh; writing by Vladimir Soldatkin; editing by Jason Neely

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