Asian sour crudes pushed higher yesterday as sentiment firmed after a recent Japanese refiners' buying spree.

A more diverse set of buyers were seen, although Japanese demand remained as the cornerstone of rising market, traders said.

January Abu Dhabi crudes have almost cleared, while Oman, Dubai and Qatar grades were traded higher in one of its strongest showing in months.

"Japan has been a pretty big buyer and now you have Thailand coming in as well. Others buyers - Taiwan, South Korea - are also potentially there," one Asian oil trader said.

The latest Oman deal was at MoG +17 cents, up sharply from MoG +10 cents seen on Tuesday.
Traders said the market had climbed steadily, with deals also done in between at MoG +13/+15 cents levels.

Among the end-users in the market were a Japanese refiner and a U.S. major, traders said.

Traders said the light sour Abu Dhabi crude market has almost cleared, with January Murban cargoes last traded up five cents at Adnoc +25 cents a barrel. The buyer was a Thai refiner.

"The market has almost disappeared in 1-2 days," one buyer said.

Traders now counted only about one cargo each of January Murban, Umm Shaif and Lower Zakum still on offer. The market did brisk business as the middle distillate rich crude is usually favoured by Japan, especially during winter.

Traders said Japan which held back demand in the last few months has returned to stockpile for winter, and also partly as a precaution against possible Opec term supply cutbacks.

Strength also rubbed off into smaller crude markets.

Traders said Qatar Marine market edged up to around QGPC +5/+10 cents levels, with the latter price seen for a cargo done between oil majors.

Qatar Land was done around QGPC +15 cents, traders said, but details were sketchy.