ONGC sells January-loading Russian Sokol crude at 22-mth high premium

SINGAPORE (Reuters) - 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.

 

(Reporting by Florence Tan; Editing by Tom Hogue, Kirsten Donovan)