(ET)
Indian explorer ONGC Videsh has sold a third Russian Sokol crude cargo for June loading via a tender, two trade sources said on Wednesday. ONGC sold the 700,000-barrel cargo loading on June 20-26 to Shell at a premium of about $4.30 a barrel to Dubai quotes, the highest premium in four months, they said, up from earlier deals at premiums of $3.50-$3.70 a barrel. A jump in Brent’s premium to Dubai quotes and robust demand in Asia are supporting spot differentials for Middle East and Russian crude.
