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Asia crude: Oman firmer, CPC seeks March Gulf crude

TOKYO: Oman was firmer on Monday in quiet trade, with Taiwan tendering to buy March-loading Masila, Basrah Light and Oman, traders said.

Traders said Oman traded on Friday at a premium of 20 cents above the MOG price, which they said was the most recent deal as well as being the highest premium fetched so far for a March cargo of the medium crude grade.

March cargoes of Oman began trading at MOG plus 18-19 cents, and traders were divided over whether the price would go much higher than MOG plus 20 cents.

Trading has been slow with the bulk of March cargoes still uncommitted.

There were vague reports that a South Korean refiner had purchased a March Qatar Land at QGPC plus 7-10 cents, but the name of the seller was not available.

A Japanese trader said he had heard that a different South Korean refiner had purchased a March-loading Arab Medium from Banoco, but price details were not available.

Taiwan's state-owned Chinese Petroleum Corp (CPC) has issued a tender to buy March-loading Masila, Basrah Light and Oman.

The tender closes on Tuesday and is valid until Thursday.

In other market-related news, potential buyers placed bids for March Masila crude last week, and traders said they expected to receive a counter-bid possibly later on Monday from Yemen.-Reuters