Middle East Crude — Benchmarks fall further as high freight curbs buying
SINGAPORE, Oct 15 (Reuters) — Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban fell further to over two-month lows, as record freight rates weighed down buying appetite from Asia. Buyers were also wary of increased shipping risks after more attacks in the Middle East were reported recently. The declines also came after news that the Trump administration is considering easing sanctions on so-called shadow fleet vessels that have transported oil and petroleum products from countries including Russia, Iran and Venezuela, in an effort to reduce record-high global freight rates, a US official said on Wednesday. Oil prices fell by about 2% on Thursday, but attacks on ships in the Middle East and Ukrainian strikes on Russian energy infrastructure limited the decline. O/R Singapore Cash Deals Cash Dubai's premium to swaps fell 90 cents to $6.45 a barrel. Unipec will deliver a December-loading Oman crude cargo to Trafigura following the deals. SELLER-BUYER PRICE ($/BBL) GLENCORE-TRAFIGURA* 107.00 GUNVOR-TRAFIGURA* 107.00 GLENCORE-TRAFIGURA* 107.00 UNIPEC-TRAFIGURA* 107.00 GUNVOR-TRAFIGURA* 107.00 UNIPEC-TRAFIGURA* 107.00 GUNVOR-TRAFIGURA* 107.00 UNIPEC-TRAFIGURA* 107.00
SINGAPORE, Oct 15 (Reuters) — Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban fell further to over two-month lows, as record freight rates weighed down buying appetite from Asia. Buyers were also wary of increased shipping risks after more attacks in the Middle East were reported recently. The declines also came after news that the Trump administration is considering easing sanctions on so-called shadow fleet vessels that have transported oil and petroleum products from countries including Russia, Iran and Venezuela, in an effort to reduce record-high global freight rates, a US official said on Wednesday.
Oil prices fell by about 2% on Thursday, but attacks on ships in the Middle East and Ukrainian strikes on Russian energy infrastructure limited the decline. O/R Singapore Cash Deals Cash Dubai's premium to swaps fell 90 cents to $6.45 a barrel. Unipec will deliver a December-loading Oman crude cargo to Trafigura following the deals.
SELLER-BUYER PRICE ($/BBL) GLENCORE-TRAFIGURA* 107.00 GUNVOR-TRAFIGURA* 107.00 GLENCORE-TRAFIGURA* 107.00 UNIPEC-TRAFIGURA* 107.00 GUNVOR-TRAFIGURA* 107.00 UNIPEC-TRAFIGURA* 107.00 GUNVOR-TRAFIGURA* 107.00 UNIPEC-TRAFIGURA* 107.00 PHILLIPS 66-TRAFIGURA* 107.00 MITSUI-TRAFIGURA* 107.00 GUNVOR-TRAFIGURA* 107.00 MITSUI*-TRAFIGURA 107.00 UNIPEC-TRAFIGURA* 107.00 MITSUI*-TRAFIGURA 107.00 UNIPEC-TRAFIGURA* 107.00 MITSUI-TRAFIGURA* 107.00 UNIPEC-TRAFIGURA* 107.00 MITSUI-TRAFIGURA* 107.00 UNIPEC-TRAFIGURA* 107.00 MITSUI*-TRAFIGURA 107.00 GLENCORE*-TRAFIGURA 107.00 MITSUI*-TRAFIGURA 107.00 GLENCORE*-TRAFIGURA 107.00 GUNVOR-TRAFIGURA* 107.00 GLENCORE*-TRAFIGURA 107.00 UNIPEC-TRAFIGURA* 107.00 GUNVOR-TRAFIGURA* 107.00 PHILLIPS 66-TRAFIGURA* 107.00 MITSUI-TRAFIGURA* 107.00 MITSUI-TRAFIGURA* 107.00 MITSUI-TRAFIGURA* 107.00 Prices ($/bbl) CURRENT PREV SESSION GME OMAN 106.83 108.86 GME OMAN DIFF TO DUBAI 6.28 7.12 CASH DUBAI 107 109.09 News Ukraine has resumed its attacks on Russian refineries with a strike at an installation in the Ryazan region, the regional governor said on Thursday, after Ukrainian President Volodymyr Zelenskiy voiced his anger at a "dangerous" withdrawal of US intelligence.
TotalEnergies said on Thursday it expects third-quarter profits to be driven by a near quadrupling in refining margins from a year ago and a sharp rise in liquefied natural gas income. Russian Urals crude premiums for delivery to India have fallen to near parity with dated Brent as weak refining margins in Asia weigh on demand, three trading sources told Reuters. For crude prices, oil product cracks and refining margins, please click on the RICs below.
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