off-the-wire

Middle East Crude-Benchmarks mixed; Northern Iraqi crude exports remain halted

Kitco Media
By Reuters
Published:
Updated:
Reuters
SINGAPORE, April 25 (Reuters) - Middle East crude benchmarks were mixed on Tuesday, with Oman and Murban extending losses while Dubai drifted higher. The spread between Brent- and Dubai-linked crude narrowed to $1.7 a barrel, a level last seen a month earlier. A narrower spread could encourage Asian refiners to look for supplies from Brent-pegged Atlantic Basin crudes. Meanwhile, Iraq's northern oil exports showed few concrete signs of an imminent restart after a month of standstill, as aspects of an agreement between Baghdad and the Kurdistan Regional Government (KRG) have yet to be resolved, according to four sources.


RUSSIAN OIL Russia's oil output this year is on course to top 480 million tonnes, or about 9.6 million barrels per day (bpd), a Russian government source familiar with the data told Reuters. China's increased purchases of April-loading Urals oil and imports of the grade loading from Russia's Baltic and Black Sea ports this month may hit an 11-months high supporting its prices, traders said and Refinitiv Eikon data showed. China has purchased some 265,000 barrels per day (bpd) of Urals oil loading from Primorsk, Ust-Luga and Novorossiisk in April so far, up from 195,000 bpd of the grade loading in March, the data showed. SINGAPORE CASH DEALS


Cash Dubai's premium to swaps gained 16 cents to $1.50 a barrel.
Seller-Buyer Price PETROCHINA-VITOL 82.75 PETROCHINA-GUNVOR 82.70 PETROCHINA-BP 82.60 EXXONMOBIL-VITOL 82.75 PETROCHINA-VITOL 82.75


PRICES ($/BBL) CURRENT PREV SESSION DME OMAN 82.74 81.25 DME OMAN DIFF TO DUBAI 1.49 1.69 CASH DUBAI 82.75 80.90


NEWS Global diesel margins have slumped by about half since February, dragging on refiners' profits, as Russian exports continue despite sanctions, helping output from China and India reach all-time highs in March. U.S. crude oil and product inventories were seen declining last week, a preliminary Reuters poll showed on Monday. Colombia's majority state-owned oil company Ecopetrol will use new technology, including artificial intelligence, to improve exploration success rates and boost output from existing fields, new Chief Executive Ricardo Roa said on Monday.


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 Nivedita Bhattacharjee)


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 ))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.