SINGAPORE, July 12: Middle East trader FAL Oil has made the best offer into Pakistan State Oil’s tender to buy 165,000 tons of 180-centistoke (cst) fuel oil for July-August delivery, industry sources said on Tuesday.

FAL offered at premiums of $19.50-$27.00 a ton to Singapore spot 180-cst quotes on a cost-and-freight (C&F) Karachi basis for the three 55,000-ton cargoes. The parcels are either 12 per cent or 16 per cent Conradson carbon residue (CCR) fuel oil.

The first offer, at premiums of either $26.75-$27.00 a ton or $19.75-$20.00, was for a July 23-25 parcel of either 12 per cent CCR, or 16 per cent CCR, respectively.

The United Arab Emirates trader also offered premiums of either $26.25-$26.50 a ton or $21.00-$21.50 for two optional cargoes, of either 12 per cent CCR or 16 per cent CCR, respectively, for July-August delivery.—Reuters