South Korea’s SK Energy, owned by SK Innovation 096770.KS, is offering a spot low-sulphur gasoil cargo for prompt loading, four sources familiar with the matter said on Thursday, adding that this rare move could be to cash in on current strong margins.

The refiner is looking to sell a 300,000-barrel 10 ppm sulphur gasoil cargo, scheduled to load Aug. 31 to Sept. 2, based off August FOB (free on board) Singapore prices, they added.

The tender will close on Aug. 4, with same-day validity.

It is more lucrative for the refiner to sell using August prices, given that August paper swap prices are at least $2.85 a barrel higher than September swap prices, one of the three sources said.
Source: Reuters (Reporting by Trixie Yap; editing by Jason Neely)