Middle East Crude-Benchmark premiums plunge to multi-month lows on Iran deal
SINGAPORE, June 15 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban premiums plunged on Monday, after U.S. President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.
Dubai premium slid to its lowest since late February, Oman premium touched a five-month low. Murban premium hit its lowest since December 2023.
Oil prices slipped to a 3-month low on Monday. O/R
Abu Dhabi National Oil Company has issued a tender to sell crude oil from the United Arab Emirates, the third one since the start of this month, trade sources said on Monday. O/TEND
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps fell $1.62 to $2.06 a barrel.
SELLER-BUYER |
PRICE ($/BBL) |
SHELL-VITOL |
79.20 |
PHILLIPS 66-GLENCORE |
78.90 |
PHILLIPS 66-PETCO TRADING |
78.90 |
PRICES ($/BBL)
|
CURRENT |
PREV SESSION |
GME OMAN |
76.93 |
80.99 |
GME OMAN DIFF TO DUBAI |
0.09 |
2.47 |
CASH DUBAI |
78.90 |
82.20 |
REFINERY
NEWS
A group of oil service workers in Norway said on Monday they will go on strike as wage talks broke down, while a second labour union said it had reached agreement with the industry and would continue working.
Iraq has asked Turkey to extend the existing Kirkuk-Ceyhan oil pipeline agreement for at least a year to allow more time to negotiate a new accord, Ali Nizar, the head of Iraq's state oil marketer SOMO, said on the company's official website.
The Commodity Futures Trading Commission, the top U.S. derivatives regulator, is considering whether to block CME Group's CME.O bid to launch a round-the-clock oil contract, Bloomberg News reported on Friday, citing an official familiar with the matter.
British oil major BP BP.L has started a process to sell stakes in two of its Gulf of Mexico projects, four people with knowledge of the matter said, in what would be one of new CEO Meg O'Neill's first moves.
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 |
