CORRECTED-Middle East Crude-Benchmarks rebound after hitting five-month lows
Corrects Dubai figures in paragraph 4 to "rose 83 cents to 37 cents a barrel" (not rose 13 cents to minus 33 cents a barrel); rewrites headline and paragraph 1 to reflect the revised figures
SINGAPORE, June 17 (Reuters) - Middle East crude benchmarks Dubai, Murban and Oman differentials recovered on Thursday to positive territory, after falling to discounts for the first time in at least five months in the prior session.
Traders are also awaiting more details of the interim U.S.-Iran peace deal to assess the supply outlook.
Oil prices steadied on Wednesday near a three‑month low, as investors weighed the impact of a U.S.-Iran peace deal and the International Energy Agency's warning of a looming supply overhang next year against firmer near-term demand to replenish depleted inventories. O/R
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 83 cents to 37 cents a barrel.
SELLER-BUYER |
PRICE ($/BBL) |
PHILLIPS-BP |
73.70 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
73.52 |
72.99 |
GME OMAN DIFF TO DUBAI |
0.19 |
-0.67 |
CASH DUBAI |
73.70 |
73.20 |
NEWS
The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday.
The U.S. will allow Iran to immediately begin selling oil and fuel under the memorandum of understanding the two sides reached to end the war, a senior U.S. official said on Tuesday.
Taiwan's state energy firm CPC said on Wednesday it is monitoring developments in the Middle East and will be ready to import a wider variety of crude oil and liquefied natural gas in the coming months if the Strait of Hormuz reopens.
TotalEnergies' TTEF.PA SATORP oil refinery in Saudi Arabia, which was hit by three drones in April, is still running only at 70% capacity and will not be fully repaired until early 2027, the company's Chief Executive Patrick Pouyanne said on Wednesday.
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
