Middle East Crude — Benchmarks fall this week as elevated freight weighs
SINGAPORE, Oct 16 (Reuters) — Spot premiums for Middle East crude benchmarks Oman and Dubai fell for a fifth consecutive session on Friday to their lowest in more than two months. The sharp downtrend this week came as sellers piled up offers, while lifting crude prices were also weighed down by soaring freight. Oil prices eased on Friday but were heading for weekly gains on uncertainty over Middle East supplies and a larger-than-expected draw from US crude stockpiles, while European diesel margins dropped following the IEA's decision to release more diesel. O/R Spot Deals Taiwan's CPC Corporation bought six Aframax tankers or 3 million barrels of US West Texas Intermediate crude via a tender, trade sources said on Friday. The cargoes were bought at a premium of around $25 per barrel to dated Brent contract and were for December arrival, they added. Singapore Cash Deals Cash Dubai's premium to swaps fell $1.53 to $4.92 a barrel. SELLER-BUYER PRICE ($/BBL) GLENCORE-TRAFIGURA 107.90 MITSUI-TRAFIGURA 106.00 Prices ($/bbl) CURRENT PREV SESSION GME OMAN 105.76 106.83 GME OMAN DIFF TO DUBAI 4.68 6.28 CASH DUBAI 106 107 News The US-Israeli war on Iran has altered bunker buying patterns for
SINGAPORE, Oct 16 (Reuters) — Spot premiums for Middle East crude benchmarks Oman and Dubai fell for a fifth consecutive session on Friday to their lowest in more than two months. The sharp downtrend this week came as sellers piled up offers, while lifting crude prices were also weighed down by soaring freight. Oil prices eased on Friday but were heading for weekly gains on uncertainty over Middle East supplies and a larger-than-expected draw from US crude stockpiles, while European diesel margins dropped following the IEA's decision to release more diesel.
O/R Spot Deals Taiwan's CPC Corporation bought six Aframax tankers or 3 million barrels of US West Texas Intermediate crude via a tender, trade sources said on Friday. The cargoes were bought at a premium of around $25 per barrel to dated Brent contract and were for December arrival, they added. Singapore Cash Deals Cash Dubai's premium to swaps fell $1.53 to $4.92 a barrel.
SELLER-BUYER PRICE ($/BBL) GLENCORE-TRAFIGURA 107.90 MITSUI-TRAFIGURA 106.00 Prices ($/bbl) CURRENT PREV SESSION GME OMAN 105.76 106.83 GME OMAN DIFF TO DUBAI 4.68 6.28 CASH DUBAI 106 107 News The US-Israeli war on Iran has altered bunker buying patterns for shippers globally as they turned to more spot and shorter-term purchases to cope with volatile prices while exploring more alternative locations for supply security, industry executives said.
PetroChina is poised for a record year in trading profits, five trading executives said, with its refineries outside China reaping bumper margins amid tight global fuel markets as the Iran war transforms the way Middle East oil is bought and sold. Indian diesel consumption is rising, driven by increased truck movement during the festival season and the nation's efforts to shield motorists from higher global prices, according to industry sources and preliminary sales data. For crude prices, oil product cracks and refining margins, please click on the RICs below.
Brent Dubai GME Oman Brent/Dubai EFS Product Cracks Fuel oil crack Gasoil crack Naphtha crack Gasoline crack Complex refining margins (Reporting by Siyi Liu in Singapore; Editing by Vijay Kishore) ((siyi.liu@thomsonreuters.com;)) |1|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 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/M Asia-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 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 |1