SINGAPORE, Feb 23 (Reuters) - Middle Eastern crude
benchmarks Oman, Dubai and Murban climbed on Thursday despite
the pressures from crude in other regions as the spread between
Brent and Dubai-linked grades continued to narrow.
The spread was pegged at $2.97 a barrel, a level last seen
in January 2022. A narrower spread suggests a smaller price
difference between light and sour crude and makes the
Brent-linked crude, such as oil produced in West Africa and
Europe, more attractive to Asian buyers.
The increase of Middle Eastern crude premiums partly came as
Russia mulls a steeper reduction on oil exports, which would
ease supply overhang in the market.
Russia plans to cut oil exports from its western ports by up
to 25% in March versus February, exceeding its announced
production cuts in a bid to lift prices for its oil, three
sources in the Russian oil market said.
OSP
Dubai has set its official differential to Oman futures
1OQc1 for May at a discount of $0.20 per barrel, the Dubai
Department of Petroleum Affairs said on Thursday.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps gained 24 cents to $1.93 a
barrel. Exxonmobil will deliver one April-loading Upper Zakum
cargo to PetroChina following the trade.
Seller-Buyer Price
EXXONMOBIL-BP 79.95
EXXONMOBIL-PETROCHINA 79.95
EXXONMOBIL-BP 79.95
EXXONMOBIL-GLENCORE 79.95
MITSUI-BP 80.00
EXXONMOBIL-GUNVOR 79.95
VITOL-PETROCHINA 80.00
MITSUI-PETROCHINA 80.00
EXXONMOBIL-PETROCHINA 80.00
HENGLI-PHILLIPS 66 80.00
MITSUI-PETROCHINA 80.00
VITOL-PETROCHINA 80.00
BP-MERCURIA 80.05
MITSUI-PHILLIPS 66 80.00
MITSUI-PHILLIPS 66 80.00
EXXONMOBIL-TOTAL 80.05
BP-MERCURIA 80.05
VITOL-PETROCHINA 80.05
MITSUI-PETROCHINA 80.05
VITOL-PETROCHINA 80.05
VITOL-BP 80.05
HENGLI-SHELL 80.05
VITOL-GUNVOR 80.05
PRICES ($/BBL)
CURRENT PREV SESSION
DME OMAN 80.84 80.82
DME OMAN DIFF TO DUBAI 2.72 1.71
CASH DUBAI 80.05 80.80
ASIAN REFINERIES
Exxon Mobil Corp is conducting maintenance at its
chemical plant on Jurong Island in Singapore, a company
spokesperson said on Thursday.
The company's 1 million tonne-per-year (tpy) cracker has
been shut, while upstream crude distillation units (CDU) at the
site are running at lower rates, likely since the week of Jan.
30 until early April, according to industry sources.
NEWS
India's fuel demand is likely to grow 4.7% in the next
fiscal year beginning on April 1, initial government estimates
showed.
Indonesia has boosted imports of gasoline by about 32% in
February ahead of the Ramadan festival in March, data from
Enterprise Singapore showed.
U.S. crude oil and fuel inventories rose last week,
according to market sources citing American Petroleum Institute
figures on Wednesday.
For crude prices, oil product cracks and refining margins,
please click on the RICs below.
Brent Dubai DME Oman Brent/Dubai EFS PRODUCT CRACKS
Fuel oil crack Gasoil crack Naphtha crack Complex refining margins (Reporting by Muyu Xu; Editing by Sherry Jacob-Phillips)
Asia Europe Americas CRUDE OIL MARKET NEWS
Crude oil tenders in Asia Crude oil supply outages in Asia Refinery outages in Asia Global arbitrage news and flows W.African crude imports to Asia, monthly REFINERY MAINTENANCE DIARIES
Asia Middle East Europe NATIONAL CRUDE IMPORT DATA
Japan China India S.Korea Indonesia CRUDE OIL INVENTORY DATA
Japan US Europe CRUDE OIL PRODUCTION/OILFIELD NEWS
OPEC output survey New Africa fields New projects New Americas fields CRUDE OIL MARKET REPORTS
Middle East Asia-Pacific West Africa North Sea Asia outlook Europe outlook Global futures report Technicals report PRICES
For all Official Selling Prices For a POLL on oil prices NYMEX and ICE oil futures TOCOM crude oil futures Dubai, Oman swaps and spread Middle East physical crude diffs Australia physical crude, Tapis swaps Asia-Pacific physical crude All Asian crude oil differentials All Asian crude oil outright prices ))
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