REFILE-Middle East Crude-Dubai benchmark rebounds but remains at multi-year lows amid strong supply
Refiles to indicate Middle East Crude report in headline
SINGAPORE, June 30 (Reuters) - Middle East crude benchmark Dubai's discount narrowed slightly on the last day of trade for June, but remained at multi-year lows amid strong supply pressure.
The region's benchmarks, including Oman and Dubai, slipped into discounts this month after the U.S. and Iran struck an interim deal, allowing some of the stranded crude supply to exit the Gulf.
Also, the market was swarmed by offers of large volumes of prompt crude from producers such as the United Arab Emirates, Qatar, Kuwait and Iraq.
ADNOC issued its fifth tender this month, closing on Wednesday.
Meanwhile, Iraq's SOMO has offered wide discounts to its official selling prices to encourage term buyers to lift Basrah crude from its terminal inside the Middle East Gulf in July, according to trade sources and a document reviewed by Reuters.
SINGAPORE CASH DEALS
Cash Dubai's discount to swaps rose 5 cents to $1.55 a barrel.
SELLER-BUYER |
PRICE ($/BBL) |
SHELL-VITOL |
68.29 |
RELIANCE-VITOL |
68.29 |
SHELL-VITOL |
68.29 |
SHELL-VITOL |
68.29 |
RELIANCE-TRAFIGURA |
68.29 |
SHELL-VITOL |
68.29 |
SHELL-PETCO TRADING |
68.29 |
SHELL-TRAFIGURA |
68.29 |
SHELL-VITOL |
68.29 |
SHELL-VITOL |
68.29 |
SHELL-TRAFIGURA |
68.29 |
RELIANCE-GUNVOR |
68.20 |
SHELL-VITOL |
68.29 |
SHELL-TRAFIGURA |
68.29 |
SHELL-VITOL |
68.29 |
SHELL-VITOL |
68.29 |
SHELL-VITOL |
68.29 |
SHELL-TRAFIGURA |
68.29 |
RELIANCE-BP |
68.29 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
65.2 |
66.69 |
GME OMAN DIFF TO DUBAI |
-4.64 |
-1.81 |
CASH DUBAI |
68.29 |
66.90 |
NEWS
Oil prices slipped on Tuesday, and were set for their biggest quarterly loss since the COVID-19 pandemic in early 2020, with investors eyeing potential U.S.-Iran talks in Doha amid a strained interim ceasefire in the four-month-old war. O/R
Japanese oil refiner Idemitsu Kosan shut a 140,000 barrels-per-day crude distillation unit at its Hokkaido refinery in northern Japan on June 24 for scheduled maintenance, said a company spokesperson, who declined to say when the unit is expected to resume operations.
Oil and gas condensate production at Kazakhstan's Karachaganak field is proceeding at a reduced rate following last week's drone attack on the Orenburg gas processing plant in Russia, the head of state energy firm KazMunayGas said on Tuesday.
Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by 5.5 million barrels to 325.7 million barrels, the lowest level since May 1983, according to data from the Department of Energy.
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
