Middle East Crude-Benchmarks steady; Brent crude's premium to Dubai soars
SINGAPORE, Jan 28 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban held steady on Wednesday amid limited trading activity, while Brent's premium to Dubai widened further.
Brent's Exchange of Futures for Swaps (EFS) to Dubai for March, which has risen from parity in early December, settled at a premium of $2.68 per barrel on Wednesday, the highest since mid-June last year, LSEG data showed.
Oil prices extended gains on Wednesday on lingering supply concerns after a winter storm disrupted U.S. crude output and exports while a weak U.S. dollar and Middle East tensions lent further support. O/R
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 4 cents to 22 cents a barrel.
SELLER-BUYER |
PRICE ($/BBL) |
VITOL-PHILLIPS 66 |
64.66 |
VITOL-MERCURIA |
64.65 |
TOTAL-MERCURIA |
64.66 |
VITOL-MERCURIA |
64.66 |
TOTAL-MERCURIA |
64.66 |
VITOL-MERCURIA |
64.66 |
TOTAL-MERCURIA |
64.66 |
VITOL-MERCURIA |
64.66 |
TOTAL-PHILLIPS 66 |
64.66 |
VITOL-MERCURIA |
64.69 |
TOTAL-MERCURIA |
64.66 |
TOTAL-MERCURIA |
64.66 |
TOTAL-MERCURIA |
64.66 |
VITOL-PHILLIPS |
64.66 |
VITOL-MERCURIA |
64.66 |
VITOL-MERCURIA |
64.66 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
64.61 |
62.85 |
GME OMAN DIFF TO DUBAI |
-0.27 |
-0.29 |
CASH DUBAI |
64.66 |
62.88 |
NEWS
U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela's energy sector, four sources familiar with the preparation said on Tuesday, a shift from a previous plan to grant individual exemptions to sanctions for companies seeking to do business in the country.
U.S. oil major Chevron CVX.N is pushing Iraq to improve returns on the giant West Qurna 2 oil field as a condition for buying the project from Russia's Lukoil LKOH.MM, three sources familiar with the matter said.
Kazakhstan said on Wednesday that it was restarting vast Tengiz oil field in stages and it would try to reach full production within in a week after three transformers burned down losing the republic at least 7.2 million barrels of output.
An oil tanker under EU sanctions for carrying Russian oil is being escorted to Tanger Med in Morocco by a Spanish rescue ship, Spain's Merchant Marine said on Tuesday.
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 |
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