Middle East Crude-Benchmarks post weekly gains on Middle East escalation

- Middle East crude benchmarks Oman, Dubai and Murban posted weekly gains this week, buoyed by supply concerns as the U.S.-Iran conflict escalated.

On Friday, Dubai and Oman differentials increased, while Murban premium little moved.

Iran said it launched fresh strikes on U.S. facilities in the Middle East on Friday, including the first direct attack in Syria, after a sixth straight night of U.S. strikes on Iranian military facilities.

Iran has asked Yemen’s Houthi movement to stand ready to close the Red Sea oil route if the United States strikes Iranian power infrastructure, three sources told Reuters on Thursday, posing a potent new threat to global energy supplies.

Crude prices also found some support from strong refining margins, traders said.


SINGAPORE CASH DEALS

Cash Dubai's discount to swaps narrowed 21 cents to minus 18 cents a barrel.

SELLER-BUYER

PRICE ($/BBL)

MERCURIA-BP

76.80

MERCURIA-BP

76.80

VITOL-MITSUI

76.90

VITOL-MITSUI

76.90


PRICES ($/BBL)


CURRENT

PREV SESSION

GME OMAN

77.09

76.36

GME OMAN DIFF TO DUBAI

0.01

-0.63

CASH DUBAI

76.90

76.60


NEWS

Just three commodity vessels crossed the Strait of Hormuz on Thursday, the fewest daily transits since May, shipping data showed, with most ships halting or making U-turns after recent Iranian attacks on vessels and the resumption of a U.S. blockade on Iran-related shipping.

China will raise domestic retail prices of petrol and diesel from Saturday, the state planner said on Friday, as the escalation of the U.S.-Iran conflict lifted global oil prices.

JERA, Japan's biggest power generator, has begun a feasibility study for a U.S. listing as it explores means of expanding overseas and broadening funding options, said three people familiar with the matter.

If the U.S. and Iran do not increase oil flowing through the Strait of Hormuz soon, the world should worry about energy security, International Energy Agency Executive Director Fatih Birol said 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


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