Australia’s NWS condensate premiums to rise

摘要

Singapore—Improving light distillate refining margins and tightening supply of ultra-light crude grades in the Middle East will likely lift price differentials for Australian North West Shelf condensate in November, market participants said Tuesday. Five regional condensate traders surveyed by S&P Global Platts said they expect January loading NWS condensate cargoes to trade at premiums between $1.10/b and $1.90/b to Platts Dated Brent crude assessments on a FOB basis. But one trader said spot differentials could hover below Dated Brent plus $1/b this month.