SINGAPORE – Vietnam's Petrolimex is seeking gasoil for delivery in May and June as prices slip to the lowest in more than four months, traders said on Wednesday.
The company is seeking two cargoes of 9,000 tonnes each of 500 ppm sulphur gasoil for delivery over May 26-30 and June 22-28 in a tender that closes on May 10.
Gasoil prices have slipped more than 5 percent since the start of last week, on a fall in underlying crude oil prices, encouraging some demand from Asian countries.
Brent crude oil is on track for its longest losing streak in nearly two years, as political turmoil in the debt-laden euro zone deepened worries about prospects for fuel demand.
Petrolimex is seeking the spot purchase to cover the shortfall from its second-quarter term tender, one of the sources said.
The company had only purchased 80 percent of the 179,000 tonnes of gasoil it was seeking for delivery over the second quarter of the year.
It had paid between parity and a premium of 20 cents a barrel to Singapore quotes for the 0.25 percent sulphur gasoil term cargoes and a premium of between 40 and 60 cents a barrel for the 500 ppm sulphur gasoil term cargoes.