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Reuters
Reuters
World

Woodside sells Sept-loading Australian Vincent crude at higher premium - sources

FILE PHOTO: The shadow of a man is cast onto a poster displaying the logo for Woodside Petroleum, Australia's top independent oil and gas company, at a briefing for investors in Sydney, Australia, May 23, 2018. REUTERS/David Gray

Australia's Woodside has sold a cargo of Vincent crude, loading during Sept. 17-21, at a premium of little above $8 a barrel to dated Brent via a spot tender, trade sources said on Thursday.

The buyer was not immediately known.

Previously, August-loading Vincent crude was traded at around $6-$7 a barrel to dated Brent, traders said.

The grade fetched a higher premium as Woodside worked to improve its quality by increasing the flash point so that it can be blended into very low sulphur fuel oil (VLSFO).

A September-loading cargo of Pyrenees, another Australian heavy sweet grade, also traded at a premium of above $8 to dated Brent via a tender this week.

(Reporting by Shu Zhang; editing by Jason Neely)

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