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Market Chatter: Abu Dhabi National Oil Offers Crude; Buyers Can Lift Inside Hormuz

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Abu Dhabi National Oil has offered crude oil for June to August loading in its fourth tender this month, with buyers having the option to lift cargoes on a free-on-board basis from Zirku or Das Island inside the Strait of Hormuz, Reuters reported Friday, citing trade sources.

Buyers can also receive cargoes on a delivered basis, while they can also lift from Fujairah storage outside the Strait or through ship-to-ship transfer between Fujairah and Sohar, and around Malaysia, the report said.

Sources told Reuters that buyers can bid for up to 2 million barrels of Upper Zakum, Umm Lulu and Das crude until June 23, while offers will be valid through June 25. Prices will reportedly be based on the official selling prices and crude benchmarks, such as Dubai.

Adnoc did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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