off-the-wire

Middle East Crude-Benchmarks mixed; Rongsheng likely buys June-loading Upper Zakum

Kitco Media
By Reuters
Published:
Updated:
Reuters
SINGAPORE, April 17 (Reuters) - Middle East crude benchmarks were mixed on Monday, with Oman advancing, while Dubai and Murban drifting lower. Spot premium of light sour crude Murban is assessed at its two-week low of $2.65 a barrel on Monday. The market awaited the tender details from China's mega refinery Rongsheng on its crude purchasing and Chinese official data on Tuesday showing March refining output to gauge the oil demand in the world's biggest crude oil importer. Rongsheng's tender is valid until Monday. Two trading sources said the refinery might have bought 2 million barrels of June-loading Upper Zakum crude via the tender.


INDIA Indian state refiners posted an 8.4% rise in sales of gasoil to 3.45 million tonnes in the first half of April compared with the same period last month, preliminary sales data showed, indicating higher demand from the agriculture sector and a recovery in industrial activity. SINGAPORE CASH DEALS


Cash Dubai's premium to swaps dipped 2 cents to $1.95 a barrel.
Seller-Buyer Price PETROCHINA-VITOL 85.95 PETROCHINA-VITOL 85.95 PETROCHINA-VITOL 85.95 PETROCHINA-VITOL 85.95 PETROCHINA-VITOL 85.95 PETROCHINA-GUNVOR 85.85 PETROCHINA-VITOL 85.90 PETROCHINA-BP 85.85 EXXONMOBIL-VITOL 85.95 PETROCHINA-VITOL 85.90 EXXONMOBIL-VITOL 85.95


PRICES ($/BBL) CURRENT PREV SESSION DME OMAN 86.01 86.02 DME OMAN DIFF TO DUBAI 2.06 1.99 CASH DUBAI 85.90 86.00


NEWS Oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorised exports. U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row, energy services firm Baker Hughes Co said in its closely followed report on Friday. Shell Plc on Monday launched its first electric ferry globally at its Singapore refinery and said it would work with the city-state's port authority to cut emissions from ships.


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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 Shilpi Majumdar)


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