Middle East Crude-Benchmark premiums weaken as oil futures drop
Energy TENI.SA | 0.00 | |
United States Oil Fund Lp Units USO | 0.00 | |
United Sts Brent Oil Fd Lp Unit BNO | 0.00 |
SINGAPORE, June 9 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban premiums weakened on Tuesday, after futures prices dropped and demand remained tepid.
Oil prices fell on Tuesday, erasing most of the previous session's gains, after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump, though both sides warned they could resume hostilities. O/R
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps fell 81 cents to $5.62 a barrel.
| SELLER-BUYER | PRICE ($/BBL) |
| BP-VITOL | 89.30 |
PRICES ($/BBL)
| CURRENT | PREV SESSION | |
| GME OMAN | 88.59 | 93.38 |
| GME OMAN DIFF TO DUBAI | 4.91 | 6.24 |
| CASH DUBAI | 89.30 | 93.60 |
NEWS
China's May crude imports slumped 29% to their lowest levels in eight years, extending a sharp decline in the world's largest oil importer that is helping keep a lid on global oil prices.
Top BP BP.L investors and former executives said they remained in the dark about the precise circumstances that led to the departure of former chair Albert Manifold, the Financial Times reported on Tuesday.
An oil cargo delivered to the Philippines that Kpler had said last month originated from Iran was actually from Russia, the ship-tracking firm said this week.
Russia is set to reduce its crude oil exports as it plans to boost refinery runs in June amid looming fuel shortages, market sources said.
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 |