Middle East sour crude benchmark Oman firmed further on talk that a cargo for November loading had traded at a premium of 7 cents a barrel to MoG, traders said yesterday.
Details of the parties involved were not disclosed but a Japanese trader or a European major could have been the seller, traders said.
Talk also circulated that Taiwanese refiner Formosa Petrochemical Corp could have bought at least two cargoes of Oman crude for November loading but this could not be confirmed.
The latest sales left the Oman market largely sold out for November-loading.
"Oman is now quite limited," a trader said.
MoG swaps, which are a differential to Dubai swaps, strengthened slightly with the September MoG swap assessed around a 50 cent-a-barrel premium to Dubai, traders said.
This indicated that traders expected Oman's MoG to slightly increase its grade's premium to Dubai in its retroactive official selling price (OSP) for September.
MoG had slashed the Oman's premium to Dubai to a 45-cent premium in its August OSP on low demand for the grade. Other crudes were also largely sold out for November-loading.
Vietnam's state oil marketer Petechim issued a tender to sell Rang Dong crude for October loading.
Indian Oil Corp (IOC) floated a tender to buy sweet crude for loading during end-November and December.
