Singapore — Indian explorer ONGC Videsh has sold a cargo of Russian Sokol crude for loading in January at the highest premium in 22 months on robust demand in Asia, trade sources said on Monday.
The 700,000-barrel cargo was sold at a premium of about $7.50 a barrel to Dubai quotes, the highest since trades registered in January 2020, according to the sources and data on Refinitiv Eikon.
Itochu bought the cargo loading on Jan. 8-14, they said.
ONGC last sold Sokol cargoes for December loading at $5.30-$5.90 a barrel.
- Reuters (Reporting by Florence Tan; Editing by Tom Hogue, Kirsten Donovan)