Med Crude-Saharan Blend rises on BPCL tender

Wed Nov 11, 2009 6:19pm GMT
 
Email | Print | | Single Page
[-] Text [+]

* Urals:no bids or offers in the Med-last seen dated -70 cts

* Sonatrach sells 1 million barrel tender to India's BPCL

LONDON, Nov 11 (Reuters) - Saharan blend differentials rose slightly as India's second-largest state-run refiner bought 1 million barrels in a tender from Sonatrach, while Urals differentials were steady amid improving margins.

India's Bharat Petroleum Corp (BPCL) purchased a total of 3 million barrels of sweet crude, including a second purchase of a Nigerian grade and their sixth straight purchase of Algerian Saharan Blend. [ID:nDEL486547]

Saharan Blend last traded at around dated Brent plus 50 cents.

REFINING MARGINS <REF/MARGIN1>

* Urals margins for complex refineries widened to around $1.34 a barrel on Wednesday, up from from 90 cents on Tuesday and around $1.22 over the past five days, according to Reuters refining models.  Continued...

 

Market Update

  • UKUK
  • USUS
  • Europe
  • Asia
  • UK Most Actives

Most Popular Business News on Reuters UK

  • Articles
  • Videos