Middle East Crude-Benchmarks mixed; Malaysian, Vietnamese grades fall

  • Date: 27-Aug-2020
  • Source: Zawya
  • Sector:Economy
  • Country:GCC
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Middle East Crude-Benchmarks mixed; Malaysian, Vietnamese grades fall

Malaysia's Labuan crude for October-loading has lately been valued at a discount narrower than $1 a barrel to dated Brent, down from a premium of more than $2 a barrel in transactions earlier this month, traders said. Last month, September-loading Labuan sold at premiums of about $4 a barrel.Kimanis, another Malaysian export grade, traded at a premium of 30 cents in a ConocoPhillips sales tender this week, compared with premiums of more than $3.50 a barrel last month, traders said.October-loading Vietnamese grades Thang Long and Ruby crude also weakened to spot discounts in sale tenders held by PV Oil, from premiums of above $3.50 a barrel for a range of September-loading Vietnamese crude grades seen last month, they said.REFINERYSinopec Shanghai Petrochemical, a refining subsidiary of Asia's top refiner Sinopec, plans