Qatar assesses bids in condensate tender for Sept loading

13 July 2010 05:27  [Source: ICIS news]

SINGAPORE (ICIS news)--Qatar International Petroleum Marketing (Tasweeq) is assessing bids in a tender to sell 500,000 barrels of condensate for September loading from Ras Laffan, market sources said on Tuesday. 

The tender closed on Monday, traders said.

“Given the state of naphtha, the market doesn’t expect prices to be terrific,” a trader said.

Asian naphtha price spread widened to a contango of $7/tonne (€5.5/tonne) from $2/tonne on Tuesday as the market faced an armada of spot supply from the Middle East and thin demand, ICIS data showed.

($1 =  €0.79)

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By: Felicia Loo

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