Middle East Crude-Benchmarks post weekly gain as US-Iran war keeps supply tight
SINGAPORE, May 15 (Reuters) - Middle East crude benchmark spot premiums of Oman, Murban and Dubai were little changed on Friday after gains in the previous session, as trade activity remained scarce.
On a weekly basis, premiums inked increases as traders feared supply tightness amid continual blockade of the Strait of Hormuz.
Oil prices gained more than 3% on Friday after U.S. President Donald Trump said his patience with Iran is running out, adding to concerns over the lack of progress on a peace deal to end ship attacks and seizures around the Strait of Hormuz. O/R
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps fell 29 cents to $10.22 a barrel.
SELLER-BUYER |
PRICE ($/BBL) |
UNIPEC-VITOL |
107.30 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
106.75 |
104.81 |
GME OMAN DIFF TO DUBAI |
9.67 |
9.82 |
CASH DUBAI |
107.30 |
105.50 |
NEWS
The United Arab Emirates will accelerate construction of a new oil pipeline to double its export capacity through Fujairah by 2027, the government's Abu Dhabi Media Office said on Friday, vastly expanding its ability to bypass the Strait of Hormuz.
India's state-run fuel retailers have raised petrol and diesel prices for the first time in four years by 3 rupees ($0.03) per litre, or more than 3%, according to dealers, to recoup some of the losses incurred due to higher global crude oil prices.
U.S. President Donald Trump said his patience with Iran was running out and that he had agreed in talks with Chinese President Xi Jinping that Tehran could not be allowed to have a nuclear weapon and must reopen the Strait of Hormuz.
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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