SINGAPORE, May 22 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban premiums were steady on Friday and posted little change for this week with light trading given supply uncertainty.

The market remained largely driven by U.S.-Iran headlines, traders are closely watching any progress in the peace talks.

Oil prices climbed on Friday as investors doubted the prospect of a breakthrough in U.S.-Iran peace talks, but held on track for a weekly loss. O/R

Full oil flows through the Strait of Hormuz will not return before the first or second quarter of 2027, even if the Middle East conflict ended now, the head of the United Arab Emirates' state oil firm ADNOC said.

TENDER

Taiwan's CPC has bought four million barrels of WTI crude from the U.S. via a tender, trade sources said. Sellers were Chevron and Trafigura.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 35 cents to $9.85 a barrel.

PRICES ($/BBL)

	CURRENT	PREV SESSION
GME OMAN	103.60	102.95
GME OMAN DIFF TO DUBAI	9.45	8.75
CASH DUBAI	104	103.70

NEWS

Seven leading OPEC+ oil-producing countries will likely agree to a modest hike to July output when they meet on June 7, four sources said, though delivery for several remains disrupted by the Iran war.

China is expected to see only a slight uptick in refined fuel exports in June from May, three trade sources familiar with the matter said, as Beijing is set to maintain export curbs for a fourth month to safeguard domestic supply.

As prices for physical crude oil hit all-time highs of over $160 per barrel last month, analysts and traders alike rushed to predict a market Armageddon if the U.S.-Iran war dragged on and the Strait of Hormuz stayed closed.

The Hengli Group, built by a husband and wife duo over three decades from a bankrupt textile mill into a Fortune Global 500 giant and one of China's largest private oil refiners, has been thrust into the centre of a geopolitical power struggle.

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