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June 24, 2008
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Tuesday
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Jamadi-us-Sani 19, 1429
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PSO buys 50,000 tons gasoline
SINGAPORE, June 23: Pakistan State Oil (PSO) has bought a total 50,000 tons of gasoline for late June-August arrival, or 25 per cent more than what it stated in its tender, a trader said Monday.
The company bought 30,000 tons of 87-octane grade for June 25-27 arrival and 20,000 tons of the same grade for July to August arrival from Trafigura at a premium of $74.00-$78.00 a ton to Middle East spot quotes, on a cost-and-freight basis.
Although PSO had bought 10,000 tons more of what it initially stated, this had limited impact on market supply, which traders said are ample at the moment due to additional barrels from India.—Reuters
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