Middle East Crude-Benchmarks steady amid light trading
SINGAPORE, May 20 (Reuters) - Middle East crude benchmarks Dubai, Oman and Murban premiums nudged higher on Wednesday amid thin trading, as traders continued to assess supply outlook.
Oil prices lost about 1% on Wednesday after U.S. President Donald Trump again asserted that the Iran war will end "very quickly", though investors remain wary about the outcome of peace talks as disruption to Middle Eastern supply continues.
Two supertankers exited the Strait of Hormuz on Wednesday while another is making its way out, after waiting in the Gulf for more than two months with 6 million barrels of Middle East crude oil onboard, shipping data on LSEG and Kpler showed.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 33 cents to $9.36 a barrel.
SELLER-BUYER |
PRICE ($/BBL) |
BP-VITOL |
106.60 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
105.96 |
106.45 |
GME OMAN DIFF TO DUBAI |
8.72 |
8.68 |
CASH DUBAI |
106.60 |
106.80 |
NEWS
China and Russia's leaders lauded on Wednesday progress in their strategic ties at a summit in Beijing, but despite the warm exchanges the talks did not appear to signal a breakthrough in a gas deal that has been under negotiation for more than a decade.
Britain will allow imports of diesel and jet fuel refined abroad from Russian crude under a sanctions carve-out, watering down restrictions to help ensure supply at home as prices soar due to the conflict in the Middle East.
China's fuel oil imports for April fell to their lowest level in nearly four years, customs data released on Wednesday showed, as demand for feedstock dropped after the U.S.-Iran war slowed refinery runs.
Chinese state refiners have slashed oil throughput by more than one million barrels per day since the outbreak of the Iran war, analysts and market sources said, as disruption to crude supplies and poor margins forced them to scale back operations.
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 |
RECENT CRUDE OIL TRADES: Asia ACRU/T Europe CRU/T Americas CRU/TU CRUDE OIL MARKET NEWS Crude oil tenders in Asia CRU/TENDA Crude oil supply outages in Asia CRU/OUT-ASIA-O Refinery outages in Asia REF/OUT-ASIA-O Global arbitrage news and flows O/CRUDEARB W.African crude imports to Asia, monthly O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia REF/A Middle East REF/ME Europe REF/E NATIONAL CRUDE IMPORT DATA Japan METI/JP1 China O/CHINA1 India O/INDIA2 S.Korea O/KOREA1 Indonesia O/INDO1-CRU CRUDE OIL INVENTORY DATA Japan O/JAPAN1 US EIA/S Europe O/EUROIL1 CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey OPEC/O New Africa fields AFR/NEW New projects ENERGY/NEW New Americas fields AM/NEW CRUDE OIL MARKET REPORTS Middle East CRU/MAsia-Pacific CRU/AP West Africa CRU/WAF North Sea CRU/E Asia outlook ASIA/CRU Europe outlook EUR/CRU Global futures report O/R Technicals report O/I PRICES For all Official Selling Prices OSP/O For a POLL on oil prices O/POLL NYMEX and ICE oil futures OILOIL TOCOM crude oil futures 0#JCO: Dubai, Oman swaps and spread ASIA/SWAP/CRUDE Middle East physical crude diffs CRUDE/ASIA2 Australia physical crude, Tapis swaps CRUDE/ASIA1 Asia-Pacific physical crude CRUDE/ASIA3 All Asian crude oil differentials 0#C-DIF-A All Asian crude oil outright prices 0#C-A