Middle East Crude - Benchmarks post monthly losses
SINGAPORE, Aug 29 (Reuters) - Middle East crude benchmark spot premiums of Oman, Dubai and Murban posted losses on a monthly basis, as previous price hikes deterred buying interest, and some Indian firms resumed Russian oil purchases.
On Friday, Oman and Dubai increased while Murban eased after rising for the previous six sessions to a seven-month high.
Indian refiners boosted U.S. crude oil purchases this month, drawn by competitive prices, trade sources said, a move that could help narrow the country's trade deficit with the United States amid tensions between the two nations.
The country's top refiner, Indian Oil Corp IOC.NS, has bought 5 million barrels of U.S. West Texas Intermediate crude for delivery in October and November via a tender, trade sources said.
This came after another state refiner Bharat Petroleum Corp BPCL.NS purchased 2 million barrels of U.S. WTI crude while private refiner Reliance Industries RELI.NS bought 2 million barrels of WTI crude from Vitol, other sources said.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 12 cents to $2.40 a barrel.
Glencore, BP and Unipec will each deliver an October-loading Oman crude cargo to PetroChina following the deals.
ExxonMobil will deliver an October-loading Upper Zakum crude cargo to Vitol following the deals.
For this month, Unipec sold 11 cargoes, or 5.5 million barrels, and PetroChina bought 17 cargoes or 8.5 million barrels.
SELLER-BUYER |
PRICE ($/BBL) |
BP-TRAFIGURA |
70.35 |
BP-PETROCHINA |
70.35 |
BP-PETROCHINA |
70.35 |
BP-PETROCHINA |
70.35 |
BP-TRAFIGURA |
70.35 |
BP-PETROCHINA |
70.38 |
BP-PETROCHINA |
70.38 |
GLENCORE-PETROCHINA |
70.38 |
GLENCORE-PETROCHINA |
70.38 |
BP-PETROCHINA |
70.38 |
BP-PETROCHINA |
70.38 |
UNIPEC-BP |
70.40 |
UNIPEC-BP |
70.40 |
GLENCORE-BP |
70.40 |
UNIPEC-BP |
70.40 |
UNIPEC-PETROCHINA |
70.40 |
UNIPEC-TRAFIGURA |
70.40 |
UNIPEC-TRAFIGURA |
70.40 |
BP-PETROCHINA |
70.39 |
UNIPEC-TRAFIGURA |
70.40 |
UNIPEC-PETROCHINA |
70.40 |
UNIPEC-PETROCHINA |
70.40 |
EXXONMOBIL-PETROCHINA |
70.45 |
UNIPEC-TRAFIGURA |
70.42 |
BP-PETROCHINA |
70.42 |
UNIPEC-PETROCHINA |
70.40 |
EXXONMOBIL-VITOL |
70.45 |
BP-TRAFIGURA |
70.40 |
EXXONMOBIL-VITOL |
70.41 |
EXXONMOBIL-VITOL |
70.41 |
BP-PETROCHINA |
70.41 |
BP-TRAFIGURA |
70.42 |
HENGLI-PETROCHINA |
70.45 |
RELIANCE-PETROCHINA |
70.45 |
GLENCORE-PETROCHINA |
70.45 |
EXXONMOBIL-PETROCHINA |
70.45 |
UNIPEC-PETROCHINA |
70.45 |
UNIPEC-PETROCHINA |
70.45 |
RELIANCE-PETROCHINA |
70.45 |
HENGLI-PETROCHINA |
70.45 |
UNIPEC-PETROCHINA |
70.45 |
UNIPEC-PETROCHINA |
70.45 |
EXXONMOBIL-PETROCHINA |
70.48 |
RELIANCE-TRAFIGURA |
70.45 |
UNIPEC-PETROCHINA |
70.45 |
UNIPEC-PETROCHINA |
70.45 |
GLENCORE-PETROCHINA |
70.49 |
UNIPEC-PETROCHINA |
70.47 |
GLENCORE-PETROCHINA |
70.49 |
UNIPEC-TRAFIGURA |
70.46 |
UNIPEC-PETROCHINA |
70.50 |
UNIPEC-VITOL |
70.50 |
UNIPEC-PETROCHINA |
70.55 |
GLENCORE-VITOL |
70.50 |
UNIPEC-PETROCHINA |
70.50 |
RELIANCE-VITOL |
70.50 |
BP-TRAFIGURA |
70.48 |
UNIPEC-PETROCHINA |
70.50 |
UNIPEC-PETROCHINA |
70.50 |
UNIPEC-PETROCHINA |
70.50 |
RELIANCE-TRAFIGURA |
70.48 |
UNIPEC-PETROCHINA |
70.50 |
UNIPEC-VITOL |
70.50 |
UNIPEC-TRAFIGURA |
70.50 |
GLENCORE-TRAFIGURA |
70.48 |
GLENCORE-VITOL |
70.50 |
RELIANCE-TRAFIGURA |
70.45 |
UNIPEC-PETROCHINA |
70.50 |
UNIPEC-PETROCHINA |
70.50 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
70.31 |
68.53 |
GME OMAN DIFF TO DUBAI |
2.21 |
1.11 |
CASH DUBAI |
70.50 |
69.70 |
NEWS
Russia's Ust-Luga oil export terminal will operate at around 350,000 barrels per day in September, or about half its usual capacity, following damage to pipeline infrastructure from Ukrainian drone attacks, two industry sources told Reuters.
Russian oil exports to India are set to rise in September, traders said, as producers cut prices to sell more crude because they cannot process as much in refineries that were damaged by Ukrainian drone attacks on energy infrastructure.
Russia-China trade, which soared to record levels as the war in Ukraine left Moscow isolated, is now falling, a trend President Vladimir Putin is seeking to reverse as he prepares for a summit with President Xi Jinping, three Russian sources said.
Malaysian state energy firm Petroliam Nasional Bhd on Friday reported a drop in first-half profit for 2025, compared with the same period last year, citing impacts from some discontinued operations, unfavourable foreign exchange moves and lower average realised prices from its petroleum products.
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 |
(Reporting by Siyi Liu in Singapore; Editing by Devika Syamnath)
((siyi.liu@thomsonreuters.com;))
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