Australian Heavy Sweet Crude Premium Dips from Record High

Demand for the oil used in fuel oil blending has slowed, causing spot premium for Australian Van Gogh crude oil for loading in October drop this week.
Australian producer Santos sold a 300,000-barrel cargo of the heavy, low-sulphur, or sweet, grade for loading on Oct. 3-7 to Japanese trader Mitsui & Co at $8 a barrel.
A September-loading Van Gogh crude cargo was traded at a premium of more than $12 a barrel, the highest premium recorded for the grade.
Van Gogh Crude are called heavy sweet as...