Middle East Crude-Dubai, Murban dip; Oman nudges up

- Middle East crude benchmark spot premiums of Dubai and Murban dipped on Wednesday, while that of Oman nudged up.

Oil prices climbed more than 1% on Wednesday, as investors weighed a fresh round of U.S. sanctions on Iran, a drop in U.S. crude stocks and a softer tone from President Donald Trump towards the Federal Reserve and his tariff war with China.


SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 10 cents to $1.71 a barrel.

PetroChina will deliver three June-loading Murban crude cargoes following the deals, two to Vitol and one to Gunvor.

SELLER-BUYER

PRICE ($/BBL)

PETROCHINA-VITOL

69.52

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.52

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-TRAFIGURA

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.50

PETROCHINA-TRAFIGURA

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-GUNVOR

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-TRAFIGURA

69.50

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.49

PETROCHINA-GUNVOR

69.50

PETROCHINA-VITOL

69.49

PETROCHINA-VITOL

69.49

PETROCHINA-VITOL

69.50

PETROCHINA-VITOL

69.49

PETROCHINA-TRAFIGURA

69.49



PRICES ($/BBL)


CURRENT

PREV SESSION

GME OMAN

69.95

68.81

GME OMAN DIFF TO DUBAI

2.17

2.14

CASH DUBAI

69.49

68.48


NEWS

Sinopec, Asia's top refiner, resumed purchases of Russian oil after a brief pause last month to assess risks from sanctions imposed by the United States on Russian entities, trade sources said on Wednesday.

Saudi Arabia and India agreed to boost cooperation in supplies of crude and liquefied petroleum gas, according to a joint statement reported by the Saudi state news agency on Wednesday following a visit by Prime Minister Narendra Modi.

ConocoPhillips COP.N, a top U.S. oil and gas producer, plans to cut staff, the company said on Tuesday, amid a broad push to rein in costs and streamline operations after its $23 billion buyout of rival Marathon Oil.

U.S. oilfield technology firm Baker Hughes BKR.O on Tuesday flagged a potential impact on its annual core profit of between $100 million and $200 million due to tariffs.

Norway's combined oil and gas production declined by 4.9% in March but still exceeded an official forecast for the month by 1.1%, the Norwegian Offshore Directorate (NOD) said on Wednesday.


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


(Reporting by Siyi Liu in Singapore; Editing by Sonia Cheema)

((siyi.liu@thomsonreuters.com;))

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