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Reuters
Reuters
Business

Australia's Santos sells June Van Gogh crude at high premium - sources

A sign for Santos Ltd is displayed on the front of the company's office building in the rural township of Gunnedah, located in north-western New South Wales in Australia, March 9, 2018. Picture taken March 9, 2018. REUTERS/David Gray

SINGAPORE (Reuters) - Australia's Santos has sold a June-loading cargo of heavy sweet Van Gogh crude at more than $9 a barrel above dated Brent, likely the highest premium ever seen for the grade, trade sources said on Thursday

The buyer for the 400,000-barrel cargo loading on June 24-28 was not immediately known

Another Australian heavy sweet grade, Pyrenees, has also fetched a strong premium at close to $9 a barrel to dated Brent, traders said

BHP may have sold the 600,000-barrel Pyrenees cargo loading on June 22-26 to BP, they said

Energy companies do not typically comment on such commercial transactions

Spot premiums for these Australian crude grades have surged as traders stock up low-sulphur oil supplies ahead of IMO 2020, traders have said [nL3N21R1UM]

(Reporting by Florence Tan)

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