Middle East Crude-Benchmarks edge up after Qatar hikes November al-Shaheen term prices

- Middle East crude benchmark spot premiums for Murban, Oman and Dubai edged higher on Thursday, after declines in the previous two sessions.

State-owned QatarEnergy has hiked the term price for al-Shaheen crude oil loading in November to the highest in eight months, two trade sources said on Thursday.

It set the November prices at $3.61 a barrel above Dubai quotes, up $1.09 from the previous month and the highest since March.

The sharp increase in the term price followed a rally in spot Middle East benchmarks premiums this month, supported by firm buying.

QatarEnergy sold three al-Shaheen cargoes to Vitol, one of the sources said.

Separately, the company sold one November-loading Qatar Marine and Land crude each to PTT at premiums between $2.20 and $2.40 a barrel above Dubai quotes, the sources said.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 4 cents to $2.96 a barrel.

Mercuria will deliver four November Upper Zakum crude cargoes to Mitsui, PetroChina, NPI and Gunvor each following the deals.

SELLER-BUYER

PRICE ($/BBL)

MERCURIA-GUNVOR

70.50

MERCURIA-GUNVOR

70.50

MERCURIA-TRAFIGURA

70.50

MERCURIA-GUNVOR

70.50

MERCURIA-TRAFIGURA

70.50

MERCURIA-GUNVOR

70.50

MERCURIA-TRAFIGURA

70.50

MERCURIA-GUNVOR

70.50

HENGLI-VITOL

70.49

MERCURIA-GUNVOR

70.50

MERCURIA-VITOL

70.49

MERCURIA-VITOL

70.49

MERCURIA-GUNVOR

70.50

MERCURIA-VITOL

70.49

SINOCHEM-TRAFIGURA

70.45

MERCURIA-GUNVOR

70.50

TRAFIGURA-MITSUI

70.45

MERCURIA-VITOL

70.49

MERCURIA-GUNVOR

70.50

MERCURIA-PETROCHINA

70.45

MERCURIA-GUNVOR

70.50

MERCURIA-TRAFIGURA

70.50

MERCURIA-GUNVOR

70.50

MERCURIA-GUNVOR

70.50

MERCURIA-MITSUI

70.49

MERCURIA-TRAFIGURA

70.45

MERCURIA-GUNVOR

70.49

MERCURIA-MITSUI

70.49

MERCURIA-VITOL

70.45

MERCURIA-TRAFIGURA

70.45

MERCURIA-PETROCHINA

70.45

MERCURIA-VITOL

70.45

MERCURIA-GUNVOR

70.49

MERCURIA-MITSUI

70.49

TRAFIGURA-NPI

70.44

MERCURIA-PETROCHINA

70.45

MERCURIA-VITOL

70.45

MERCURIA-GUNVOR

70.49

MERCURIA-MITSUI

70.48

RELIANCE-TOTAL

70.45

SINOCHEM-VITOL

70.45

MERCURIA-PETROCHINA

70.45

MERCURIA-GUNVOR

70.48

MERCURIA-VITOL

70.45

MERCURIA-VITOL

70.45

TRAFIGURA-TOTAL

70.45

MERCURIA-VITOL

70.45

MERCURIA-VITOL

70.45

MERCURIA-NPI

70.44

TRAFIGURA-MITSUI

70.44

MERCURIA-VITOL

70.45

RELIANCE-BP

70.40

MERCURIA-GUNVOR

70.48

MERCURIA-NPI

70.44

MERCURIA-VITOL

70.45

MERCURIA-MITSUI

70.44

MERCURIA-GUNVOR

70.45

MERCURIA-NPI

70.44

MERCURIA-VITOL

70.45

RELIANCE-EXXONMOBIL

70.40

MERCURIA-GUNVOR

70.45

MERCURIA-VITOL

70.45

MERCURIA-NPI

70.44

MERCURIA-GUNVOR

70.45

MERCURIA-VITOL

70.45

MERCURIA-GUNVOR

70.45

MERCURIA-NPI

70.44


PRICES ($/BBL)


CURRENT

PREV SESSION

GME OMAN

70.58

70.98

GME OMAN DIFF TO DUBAI

3.09

3.21

CASH DUBAI

70.45

70.69


NEWS

State-owned Sinochem Group is moving its headquarters and hundreds of staff to a new economic development zone south of the Chinese capital by the end of this month, three people familiar with the matter said.

Oil demand continues to grow in Asia, while China and some other countries have been replenishing their crude stockpiles, Alexander Dyukov, the head of Russian oil major Gazprom Neft SIBN.MM said on Thursday, TASS news agency reported.

U.S. crude oilstockpiles fell sharply last week as net imports dropped to a record low amid a jump in exports to a near two-year high, the Energy Information Administration said on Wednesday.

India's Mangalore Refinery and Petrochemicals Ltd (MRPL) has issued an expression of interest to sell term jet fuel cargoes for delivery in the fourth quarter, according a document seen by Reuters on Thursday.


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


(Reporting by Siyi Liu in Singapore;)

((siyi.liu@thomsonreuters.com;))

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