Middle East Crude-Benchmarks edge up amid light trading; focus on Hormuz
Energy TENI.SA | 0.00 |
SINGAPORE, June 22 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban differentials edged up amid light trading activity on Monday, while traders focused on the shipping situation at the Strait of Hormuz to assess the supply outlook.
There was a fall in ship traffic after Iran announced that it had again closed the waterway over the weekend, shipping data showed.
Global oil prices also declined after U.S.-Iran talks concluded in Switzerland with Tehran saying it had secured waivers for oil and petrochemical exports, easing worries about a supply shortage in global markets. O/R
TENDER
Abu Dhabi National Oil Company has sold at least 18 million barrels of crude oil from the United Arab Emirates in its third spot tender issued this month, trade sources said.
The latest sale brings ADNOC's spot sales so far in June to at least 48 million barrels, according to Reuters' calculations. The producer is also offering additional volumes in a fourth tender that is due to close later this week.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 19 cents to $1.18 a barrel.
PRICES ($/BBL)
|
CURRENT |
PREV SESSION |
GME OMAN |
71.77 |
72.20 |
GME OMAN DIFF TO DUBAI |
-0.35 |
-0.91 |
CASH DUBAI |
73.30 |
74.10 |
NEWS
Fifty-four people were injured and 18 are missing after an explosion at Qatar's massive Ras Laffan liquefied natural gas (LNG) complex, which occurred as workers were restarting operations halted after an Iranian attack in March.
Indian refiners' crude throughput fell over 5% year-on-year in May to 5.21 million barrels per day (22.05 million metric tons), provisional government data showed.
The number of Japan-related vessels remaining in the Gulf has fallen to 37 from 45 at the start of the Iran war, with seven ships having transited the Strait of Hormuz and one transferred to a non-Japanese operator, according to the Japanese Shipowners' Association.
U.S. and Iranian officials made "encouraging progress" at a first round of talks in Switzerland that ended early on Monday, mediators said, although tension persisted over Lebanon and the Strait of Hormuz.
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 |
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PRODUCT CRACKS |
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Fuel oil crack |
FO180SGCKMc1 |
Gasoil crack |
GO10SGCKMc1 |
Naphtha crack |
NAF-SIN-CRK |
Gasoline crack |
GL92-SIN-CRK |
Complex refining margins |
REF/MARGIN1 |
