Sudan Dar Blend crude slide sharply
April 17, 2010 (KHARTOUM) – The Prince of Sudan’s Dar Blend heavy crude fell sharply on Friday, pressured by energy demand concerns, and ample supply of medium to heavy sweet crudes from Vietnam and Australia.
Also no big boost in demand is expected from China, Sudan’s biggest buyer.
Dar Blend crude loading in May fell to the lowest in 13 months at $14.50/b below Dated Brent, reported Platts a specialized energy news media. The differential was down from around $10/b below Dated Brent last traded for an earlier cargo loading in May.
The oil princes this week oil pulled back as concerns surrounding demand reared its head once again. The US market, world’s biggest energy consuming nation followed by number two China, is expected to reduce its needs of energy while the Euro, meanwhile, extended recent losses against the dollar on.
Malaysian Petronas’ trading entity Petco sold one million barrels of the heavy sweet, but acidic crude to Unipec this week at close to $14.50/b under North Sea crude. The cargo will load in the first half of May from Sudan’s port of Marsa Bashayer.
The last time Dar Blend was lower was in March 2009 when a cargo loading over May 7-9 changed hands at $14-15/b below Dated Brent, trade records compiled by Platts showed.
The Sudanese crude went on to reach an all-time high of $6.50/b below Dated Brent in July and August of 2009 for barrels loading over September-October.
(ST)
yazB
Sudan Dar Blend crude slide sharply
Dubai new oil fields have started producing 165,000bpd, a better blend has put pressure on the Sudanese dar blend amid a new 7 yrs contract offered to china. The sudanese oil is traded outside the usual congolormates which usually seeks long term commitment to gaurd both the suplly and demand chain and the cashflow advantages but this mainly due to the lack of regulation in the country (Fraud)!!