Middle East Crude-Benchmarks gain on Middle East tensions
SINGAPORE, July 13 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban discounts narrowed on Monday as renewed strikes in the Middle East raised fears of supply disruptions.
U.S. and Iranian forces exchanged heavy missile and drone assaults, with Tehran targeting U.S. facilities in states across the Gulf and saying it had again closed the vital Strait of Hormuz, sending oil prices higher.
The number of vessels transiting the Strait of Hormuz fell to multi-week lows on Sunday, shipping data showed, as renewed strikes between the U.S. and Iran and attacks on ships in the Middle East heightened safety concerns.
Oil prices surged more than 3% on Monday.
SINGAPORE CASH DEALS
Cash Dubai's discount to swaps rose 85 cents to minus $1.22 a barrel.
SELLER-BUYER |
PRICE ($/BBL) |
VITOL-TRAFIGURA |
72.20 |
VITOL-TRAFIGURA |
72.25 |
VITOL-TRAFIGURA |
72.25 |
VITOL-TRAFIGURA |
72.25 |
VITOL-MITSUI |
72.25 |
MERCURIA-TRAFIGURA |
72.29 |
VITOL-TRAFIGURA |
72.29 |
MERCURIA-MITSUI |
72.29 |
VITOL-TRAFIGURA |
72.29 |
VITOL-TRAFIGURA |
72.29 |
VITOL-MITSUI |
72.29 |
VITOL-TRAFIGURA |
72.29 |
SHENGHONG-MITSUI |
72.29 |
VITOL-TRAFIGURA |
72.29 |
VITOL-MITSUI |
72.30 |
MERCURIA-TRAFIGURA |
72.30 |
VITOL-TRAFIGURA |
72.30 |
MERCURIA-TRAFIGURA |
72.30 |
VITOL-TRAFIGURA |
72.30 |
BP-TRAFIGURA |
72.29 |
VITOL-TRAFIGURA |
72.30 |
VITOL-TRAFIGURA |
72.30 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
72.11 |
69.29 |
GME OMAN DIFF TO DUBAI |
-1.41 |
-2.28 |
CASH DUBAI |
72.30 |
69.50 |
NEWS
Iranian oil supplies at sea are rising after Tehran ramped up exports during the interim peace deal with the United States, but sales have been slow as China's independent refiners have turned to cheaper crude from Iraq, the UAE and Qatar.
Europe has imported jet fuel from the U.S. and Asia, raised its refiners' output and drawn on stocks to keep planes flying – and yet it remains the region most exposed as renewed Middle Eastern tension raises the risk of further supply disruption.
The Abu Dhabi National Oil Company has set the August official selling price of its benchmark Murban crude at $80.01 a barrel, it said on Monday, down from the previous month's OSP of $101.48 a barrel.
China's Sinopec said it had completed the restructuring of China National Aviation Fuel (CNAF), the country's dominant jet fuel distributor, according to a company statement on July 10.
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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