Middle East Crude-Benchmark premiums rise as oil prices gain

Reuters
2024-11-21
Middle East Crude-Benchmark premiums rise as oil prices gain

SINGAPORE, Nov 21 (Reuters) - Middle East crude benchmark spot premiums for Oman, Dubai and Murban ticked up on Thursday, tracking gains in oil prices.

Oil prices climbed on Thursday as geopolitical concerns over escalating tensions between Russia and Ukraine outweighed the impact of a bigger-than-expected increase in U.S. crude inventories.

Both Brent LCOc1 crude futures and U.S. West Texas Intermediate crude futures CLc1 have risen more than 3% so far this week.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 2 cents to $0.68 a barrel.

SELLER-BUYER

PRICE ($/BBL)

PTT-TOTAL

72.82

MITSUI-PETROCHINA

72.83

TRAFIGURA-PHILLIPS 66

72.82

TRAFIGURA-TOTAL

72.84

TRAFIGURA-TOTAL

72.84

MITSUI-GLENCORE

72.83

SHENGHONG-GLENCORE

72.84

MITSUI-PETROCHINA

72.83

UNIPEC-PETROCHINA

72.83

PTT-PETROCHINA

72.83

PRICES ($/BBL)

CURRENT

PREV SESSION

GME OMAN

72.84

72.71

GME OMAN DIFF TO DUBAI

0.69

0.52

CASH DUBAI

72.83

72.85

REFINERY

Sinochem Group may keep three bankrupt oil refineries located in eastern China after auctions to sell them drew little interest from other companies, sources familiar with the matter said.

NEWS

U.S. crude oil and gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw, the Energy Information Administration said on Wednesday.

Peru's indebted state-run oil firm PetroPeru PETROBC1.LM could consider offering a minority stake to private investors in the second half of 2025, when the company hopes to emerge from a crisis and post profits, Chairman Alejandro Narvaez told Reuters on Wednesday.

Koch Industries is cutting or facing departures of employees across its trading division, several sources familiar with the matter said on Wednesday.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

Brent

BRENTSGMc1

Dubai

DUBSGSWMc2

GME Oman

OQc1

Brent/Dubai EFS

DUB-EFS-1M

PRODUCT CRACKS

Fuel oil crack

FO180SGCKMc1

Gasoil crack

GO10SGCKMc1

Naphtha crack

NAF-SIN-CRK

Gasoline crack

GL92-SIN-CRK

Complex refining margins

REF/MARGIN1

(Reporting by Siyi Liu in Singapore; Editing by Varun H K)

((siyi.liu@thomsonreuters.com;))

RECENT CRUDE OIL TRADES:
Asia ACRU/T  Europe CRU/T Americas CRU/TU
      
CRUDE OIL MARKET NEWS      
Crude oil tenders in Asia                       CRU/TENDA
Crude oil supply outages in Asia                CRU/OUT-ASIA-O      
Refinery outages in Asia                        REF/OUT-ASIA-O      
Global arbitrage news and flows                 O/CRUDEARB      
W.African crude imports to Asia,  monthly       O/WAFRICA1      
REFINERY MAINTENANCE DIARIES      
Asia REF/A   Middle East REF/ME   Europe REF/E      
                       
NATIONAL CRUDE IMPORT DATA      
Japan     METI/JP1   China   O/CHINA1      
India     O/INDIA2   S.Korea O/KOREA1      
Indonesia O/INDO1-CRU         
                       
CRUDE OIL INVENTORY DATA      
Japan O/JAPAN1  US EIA/S  Europe O/EUROIL1      
                    
CRUDE OIL PRODUCTION/OILFIELD NEWS      
OPEC output survey OPEC/O          New Africa fields    AFR/NEW 
New projects       ENERGY/NEW      New Americas  fields AM/NEW
CRUDE OIL MARKET REPORTS      
Middle East             CRU/MAsia-Pacific         CRU/AP      
West Africa             CRU/WAF  North Sea            CRU/E      
Asia outlook            ASIA/CRU Europe outlook       EUR/CRU      
Global futures report   O/R      Technicals report    O/I      
                            
PRICES      
For all Official Selling  Prices       OSP/O      
For a POLL on oil  prices              O/POLL      
NYMEX and ICE oil  futures             OILOIL      
TOCOM crude oil  futures               0#JCO:      
Dubai, Oman swaps and  spread          ASIA/SWAP/CRUDE      
Middle East physical crude diffs       CRUDE/ASIA2      
Australia physical crude, Tapis swaps  CRUDE/ASIA1      
Asia-Pacific physical crude            CRUDE/ASIA3      
All Asian crude oil  differentials     0#C-DIF-A
All Asian crude oil outright  prices   0#C-A

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