South Korea’s SK Energy, owned by SK Innovation 096770.KS, is offering four more spot 10 ppm sulphur gasoil cargoes loading in September, after selling at least five in the past week, three sources said on Wednesday.

The refiner is likely looking to sell more front-month cargoes to cash in on lucrative margins, as the market is in a wide backwardation with front-month prices trading at least $3 a barrel higher than forward-month prices, one source said.

The tender for the four 300,000-barrel cargoes loading Sept. 21-23, Sept. 23-25, Sept. 25-27 and Sept. 27-29 closes on Aug. 24 with same-day validity.

Buyers can submit their bids using September or October average pricing, the sources added.

SK Energy last sold three 10ppm sulphur gasoil cargoes, loading mostly in first-half September, at a small premium linked to free-on-board Singapore prices on Aug. 22.
Source: Reuters (Reporting by Trixie Yap; editing by Jason Neely)