SINGAPORE, Feb 8 (Reuters) - Middle East crude
benchmarks Oman, Dubai and Murban continued to rise on
Wednesday, supported by expectations of a demand revival in
China and a supply disruption at Turkey's Ceyhan oil terminal.
The Iraqi crude pipeline to the Ceyhan oil export hub
resumed flows on Tuesday evening while a tanker docked to load
crude, the first since a series of earthquakes on Monday, ship
tracking showed and industry sources said.
While Iraqi crude flows and exports have resumed, exports of
Azeri crude were still stopped. The Azeri BTC pipeline was,
however, still working and sending oil to storage in Ceyhan, two
sources said.
OSP
Iraq sets March Basrah Medium crude price to Asia at minus
$1.10 a barrel versus the Oman/Dubai average, up 30 cents from a
month ago, according to the Iraqi State Organization for
Marketing of Oil (SOMO).
Qatar sets the official selling prices (OSPs) for March
Marine crude at plus $0.40 a barrel against the Oman/Dubai
average, and for Land crude at plus $1.10 a barrel against the
Oman/Dubai average, according to a pricing document issued by
Qatar Petroleum.
February OSPs for Qatar Marine and Qatar Land were set at
$0.75 a barrel over the Oman/Dubai average and $2.10 a barrel,
respectively.
INDIA
India, the world's third-biggest oil importer and consumer,
has diversified its sources of energy imports but will continue
to buy most of its oil from the Middle East for a long time, the
South Asian country's oil minister said on Wednesday.
The minister also said India will consider buying oil from
Iran and Venezuela if sanctions are lifted and would continue
purchases from Russia if prices "continue to be good".
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 6 cents to $2.01 a
barrel.
Seller-Buyer Price
Phillips 66-Mercuria 81.85
Phillips 66-Trafigura 81.85
Phillips 66-Trafigura 81.85
Phillips 66-Trafigura 81.85
Reliance-Mercuria 81.90
Phillips 66-Trafigura 81.90
Hengli-Mercuria 81.95
Total-PetroChina 81.90
Mitsui-BP 81.90
Gunvor-Trafigura 81.90
Total-PetroChina 81.90
Mitsui-Trafigura 81.90
Koch-Vitol 81.85
Koch-Mercuria 81.95
Total-Trafigura 81.90
Total-PetroChina 81.90
Gunvor-Trafigura 81.90
PRICES ($/BBL)
CURRENT PREV SESSION
DME OMAN 82.09 80.45
DME OMAN DIFF TO DUBAI 2.20 2.00
CASH DUBAI 81.90 80.40
NEWS
Russian Deputy Prime Minister Alexander Novak said on
Wednesday that European Union moves to add what he called
"exemptions" to its price cap on oil products showed that
Russian oil was still in demand.
Western sanctions on Russia have significantly reduced state
oil revenues and diverted tens of billions of dollars towards
shipping and refining firms, some with Russian connections.
U.S. crude oil inventories fell last week, while fuel
inventories rose, according to market sources citing American
Petroleum Institute figures on Tuesday.
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