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