Middle East Crude-Oman, Murban fall; Brent/Dubai EFS hit 14-month low

SINGAPORE, Feb 27 (Reuters) - Middle Eastern crude benchmarks Oman and Murban dipped on Monday amid subdued trade and persistent pressures from arbitrage oil. The spread between Brent- and Dubai-linked grades was pegged at $2.95 a barrel, the narrowest level since December 2021, which would prompt Asian buyers to take more Atlantic Basin arbitrage cargoes. Spot premium for Murban, a light sour crude, fell 44 cents from previous session to $3.25 a barrel over the Dubai quotes. SINGAPORE CASH DEALS Cash Dubai's premium to swaps edged up by 2 cents to $1.84 a barrel. BP will deliver one April-loading Upper Zakum cargo to Mercuria following the trade. Exxonmobil will also deliver one April-loading Upper Zakum cargo to Mercuria. Seller-Buyer Price EXXONMOBIL-MERCURIA 82.10 VITOL-MERCURIA 82.10 EXXONMOBIL-MERCURIA 82.10 EXXONMOBIL-PHILLIPS 66 82.15 VITOL-PHILLIPS 66 82.15 BP-PHILLIPS 66 82.15 EXXONMOBIL-MERCURIA 82.15 BP-TRAFIGURA 82.15 EXXONMOBIL-MERCURIA 82.15 VITOL-TRAFIGURA 82.15 EXXONMOBIL-PETROCHINA 82.15 BP-MERCURIA 82.15 EXXONMOBIL-MERCURIA 82.15 VITOL-TRAFIGURA 82.15 EXXONMOBIL-PETROCHINA 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-PETROCHINA 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-MITSUI 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-MITSUI 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-PHILLIPS 66 82.15 VITOL-MERCURIA 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-MITSUI 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-MITSUI 82.15 VITOL-TRAFIGURA 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-MITSUI 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-MERCURIA 82.15 VITOL-PHILLIPS 66 82.15 HENGLI-MITSUI 82.20 EXXONMOBIL-MERCURIA 82.15 RELIANCE-PETROCHINA 82.20 EXXONMOBIL-MERCURIA 82.15 VITOL-TRAFIGURA 82.15 EXXONMOBIL-MERCURIA 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-PETROCHINA 82.15 VITOL-MERCURIA 82.15 EXXONMOBIL-PETROCHINA 82.15 VITOL-MERCURIA 82.15 PRICES ($/BBL) CURRENT PREV SESSION DME OMAN 81.95 82.63 DME OMAN DIFF TO DUBAI 1.64 2.40 CASH DUBAI 82.15 82.05

ASIAN REFINERIES China's top refiner Sinopec Corp has shut a portion of its Zhenhai refinery at Ningbo for scheduled maintenance starting Feb. 20, according to a post on the company's Weibo account.

NEWS China's Yulong Petrochemical has agreed two two-year crude oil supply deals with BP and Chevron to supply its 400,000 barrel-per-day greenfield refinery in northern China from next year, a company official told Reuters on Monday. Russian oil pipeline monopoly Transneft on Monday said there were no flows of Russian oil to Poland because paperwork for supplies in the second half of February had not been completed, the TASS news agency reported. Kuwait is set to ramp up refined oil product exports from its new Al Zour refinery in the second half of 2023 to plug Russian shortfalls in Europe and meet growing demand in Asia and Africa, industry sources and analysts said.

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 Varun H K)

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