Middle East Crude-Benchmarks rise on regional tension
Energy TENI.SA | 0.00 | |
United States Oil Fund Lp Units USO | 0.00 |
SINGAPORE, May 28 (Reuters) - Middle East crude benchmark premiums of Oman, Dubai and Murban rose on Thursday as tensions in the Persian Gulf flared up, fanning supply fears.
Iran's Revolutionary Guard targeted a U.S. airbase on Thursday after the U.S. military carried out what a Washington official said were strikes on an Iranian drone operation near the Strait of Hormuz, hours after President Donald Trump rejected a report he was close to a compromise deal with Tehran.
Oil prices jumped more than 2% on Thursday after a 5% fall in the previous session. O/R
South Korea's SK Energy has issued a tender seeking Middle Eastern oil and condensate for loading in July-October, two sources said on Thursday.
The company is looking for supply from the United Arab Emirates, Oman and Qatar in the tender which will close on June 2, one of them said.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose $2.64 to $12.67 a barrel.
| SELLER-BUYER | PRICE ($/BBL) |
| UNIPEC-BP | 97.00 |
| UNIPEC-BP | 99.20 |
PRICES ($/BBL)
| CURRENT | PREV SESSION | |
| GME OMAN | 103.49 | 95.57 |
| GME OMAN DIFF TO DUBAI | 16.96 | 7.10 |
| CASH DUBAI | 99.20 | 98.50 |
NEWS
Two supertankers and one liquefied natural gas (LNG) tanker exited the Strait of Hormuz earlier this week with their transponders switched off, and are heading for India and China, shipping data from LSEG and Kpler showed.
President Donald Trump’s waivers allowing foreign-flagged ships to move oil and fuel between U.S. ports have had little impact on high domestic gasoline prices due to elevated shipping rates and the relatively small fuel volumes transported so far, a Reuters analysis found.
A cargo of oil from the U.S. Strategic Petroleum Reserve headed to California this month for the first time ever, ship tracking service Kpler said.
Middle distillates inventories in Singapore fell to a near two-month low as imports continued to fall, government 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 | |
| Fuel oil crack | FO180SGCKMc1 |
| Gasoil crack | GO10SGCKMc1 |
| Naphtha crack | NAF-SIN-CRK |
| Gasoline crack | GL92-SIN-CRK |
| Complex refining margins | REF/MARGIN1 |
