Middle East Crude-Benchmarks jump after Houthis say they attacked two Saudi tankers
Energy TENI.SA | 0.00 | |
SAUDI ARAMCO 2222.SA | 0.00 |
SINGAPORE, July 23 (Reuters) - Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban jumped on Thursday, extending a rally to touch their highest levels in at least eight weeks, on fears of supply disruptions.
Yemen's Houthi militia attacked two Saudi Arabian oil tankers in a military operation, the group said on Thursday, and a Saudi news agency later confirmed one of the two vessels was ablaze after an assault while sailing in the Red Sea.
Asian buyers are turning to alternative supplies from Russia and the U.S., traders said.
Still, two Chinese supertankers carrying a combined 4 million barrels of Saudi Arabian oil were exiting the Red Sea via the Bab el-Mandeb strait on Thursday, shipping data showed.
Two VLCCs emerged from the Strait of Hormuz on Thursday, LSEG data showed. The New Giant, carrying 2 million barrels of Iraqi crude, was headed for the eastern Chinese port of Rizhao, while the Rotterdam Energy, loaded with 2 million barrels of Upper Zakum crude from the United Arab Emirates, appeared off Fujairah, according to LSEG and Kpler data.
Three commodity vessels transited the Strait of Hormuz on Wednesday, down from four a day earlier and 18 the previous Wednesday, according to Kpler.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose $6.87 to $12.74 a barrel.
Mercuria will deliver a September-loading Oman crude cargo to Mitsui following the deals.
SELLER-BUYER |
PRICE ($/BBL) |
MERCURIA-MITSUI |
96.00 |
MERCURIA-MITSUI |
96.50 |
UNIPEC-PHILLIPS 66 |
96.60 |
VITOL-MITSUI |
97.00 |
UNIPEC-PHILLIPS 66 |
97.10 |
UNIPEC-PHILLIPS 66 |
97.20 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
97.08 |
89.51 |
GME OMAN DIFF TO DUBAI |
12.62 |
5.96 |
CASH DUBAI |
97.20 |
89.42 |
NEWS
The operator of Vietnam's largest oil refinery, Nghi Son Refinery and Petrochemical LLC, has secured sufficient crude oil for its operations through to the end of September, state energy firm Petrovietnam said on Thursday.
Goldman Sachs maintained on Thursday its Brent crude LCOc1 forecast of $80/barrel for the fourth quarter of 2026, saying lower Middle East supply should support prices if tensions between the United States and Iran ease by year-end.
The conflict in the Middle East has deepened forecasts of a global oil deficit in 2026, according to a Reuters poll of analysts, but recovering Gulf flows, robust U.S. production and weaker demand from China are expected to tip the market into oversupply in 2027.
Oil product stocks in Asia's key trading hub Singapore eased to their lowest in six weeks, led by a slide in clean petroleum product inventories, data showed 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 |
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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 |
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
