off-the-wire

Middle East Crude-Benchmarks mixed; Saudi OSP, China economic target awaited

Kitco Media
By Reuters
Published:
Updated:
Reuters
SINGAPORE, March 3 (Reuters) - Middle Eastern crude benchmarks were mixed on Friday as the market awaited for top oil exporter Saudi Arabia to publish its official selling prices for April-loading cargoes to Asian clients. Saudi typically releases the prices around the fifth of each month. A Reuters survey showed that the market expects Saudi to raise its flagship Arab Light crude price by about 40 cents. The market is also watching for China to reveal its 2023 economic growth target during its annual parliament gathering. The country may aim for an up to 6% growth as Beijing looks to boost investor and consumer confidence and build on a promising post-pandemic recovery, sources involved in policy discussions said earlier this week. SINGAPORE CASH DEALS Cash Dubai's premium to swaps fell 29 cents to $2.29 a barrel. Seller-Buyer Price UNIPEC-PETROCHINA 83.40 TRAFIGURA-TOTAL 83.40 UNIPEC-PETROCHINA 83.40 RELIANCE-PETROCHINA 83.40 UNIPEC-PETROCHINA 83.40 UNIPEC-PETROCHINA 83.40 TRAFIGURA-TOTAL 83.35 UNIPEC-PETROCHINA 83.35 UNIPEC-PETROCHINA 83.35 TRAFIGURA-TOTAL 83.30 UNIPEC-PETROCHINA 83.30 BP-TOTAL 83.30 VITOL-PETROCHINA 83.30 TRAFIGURA-TOTAL 83.30 VITOL-PETROCHINA 83.30 TRAFIGURA-PETROCHINA 83.30 UNIPEC-PETROCHINA 83.30 TRAFIGURA-PETROCHINA 83.30 UNIPEC-PETROCHINA 83.30


PRICES ($/BBL) CURRENT PREV SESSION DME OMAN 83.32 82.78 DME OMAN DIFF TO DUBAI 2.31 2.51 CASH DUBAI 83.30 82.85


NEWS Russian oil producer Lukoil has started ship-to-ship (STS) loadings of ultra-low-sulphur diesel (ULSD) off its western exclave of Kaliningrad, according to traders and Refinitiv data. The United States imposed sanctions on Thursday on firms it said had transported or sold Iranian petroleum or petrochemical products in violation of U.S. restrictions, including two companies based in China. Top energy executives and officials from around the world will descend on Houston next week just as the political fallout from Russia's invasion of Ukraine a year ago continues to distort global oil supply lines and put long-term energy security as top priority for governments.


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