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Praxis Market Update

Market update from Praxis Energy Agents S.A.



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Updated on 03 July 2017 13:34 GMT

World No.1 oil exporter Saudi Arabia could raise prices for the heavy crude it sells to Asia in August to the highest in more than three years, trade sources said. The move would come after refiner profits on churning out fuel oil from heavy crude hit record highs, with state oil giant Saudi Aramco cutting heavy crude production as part of a drive led by the Organization of the Petroleum Exporting Countries (OPEC) to rein in global output.

Singapore: Avails are fair, Earliest Supply from 4th of July onwards and according to barge schedule.

Hong Kong: Avails are good. Earliest dates for deliveries from 4th of July onwards and according to barge schedule 0.05% (one grade only available).







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