Middle East Crude-Benchmarks edge up as market monitors US-Iran peace talk
SINGAPORE, May 21 (Reuters) - Middle East crude benchmarks Oman, Murban and Dubai premiums edged up on Thursday as supply tightness persisted, while traders also monitored the peace talks between the United States and Iran.
Pakistan stepped up diplomatic efforts on Thursday to hasten U.S. and Iran peace talks, as Tehran said it was reviewing Washington's latest responses and President Donald Trump suggested he could wait a few days for "the right answers" from Tehran but was also willing to resume attacks on the country.
Oil prices edged higher on Thursday from two-day declines.O/R
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 14 cents to $9.50 a barrel.
BP will deliver one July-loading Oman crude cargo to Vitol following the deals.
SELLER-BUYER |
PRICE ($/BBL) |
BP-VITOL |
103.50 |
BP-VITOL |
103.50 |
BP-VITOL |
103.80 |
BP-VITOL |
103.70 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
102.95 |
105.96 |
GME OMAN DIFF TO DUBAI |
8.75 |
8.72 |
CASH DUBAI |
103.70 |
106.60 |
NEWS
Saudi Arabia is expected to burn more imported fuel oil for power generation this summer following a loss of natural gas supply from oilfields that have been shut after the Iran war curbed its oil exports, analysts said.
Virtually all major oil refineries in central Russia have been forced to halt or scale back fuel output following Ukrainian drone attacks in recent days, according to official data and sources.
China exported small quantities of gasoline, diesel and jet fuel to Southeast Asia and other regions in April, as fuel exports fell to the lowest in a decade on Beijing's curbs to safeguard against energy market disruptions caused by the Iran war.
Virtually all major oil refineries in central Russia have been forced to halt or scale back fuel output following Ukrainian drone attacks in recent days, according to official data and sources.
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 |
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