Middle East Crude-Dubai premium extends decline amid thin trading as US-Iran talks stall
SINGAPORE, June 3 (Reuters) - Middle East crude benchmark Dubai premium extended its decline on Wednesday, while Murban and Oman premiums little moved with light trading as the U.S.-Iran peace talks remained at a deadlock.
Oil prices rose more than 2% on Wednesday, extending gains from the previous session, as hostilities in the Middle East erupted anew and talks between Tehran and Washington showed little progress. O/R
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps fell $1.93 to $7.05 a barrel.
SELLER-BUYER |
PRICE ($/BBL) |
PTT-TRAFIGURA |
97.20 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
96.93 |
91.76 |
GME OMAN DIFF TO DUBAI |
6.78 |
5.94 |
CASH DUBAI |
97.20 |
94.80 |
NEWS
Ukrainian drones struck an oil terminal and naval base in St Petersburg hours before President Vladimir Putin's showcase economic forum got under way, an attempt to embarrass the Kremlin chief and show how vulnerable Russia's cities are.
Norway's oil and gas output could initially fall by about 45,500 barrels of oil equivalent per day from Friday onwards if workers choose to go on strike, industry group Offshore Norway told Reuters on Wednesday.
India is expected to see less growth in gasoline and diesel demand this year after a series of price hikes last month that reflect higher oil costs triggered by the Iran war, with early signs of stress already visible in the trucking sector.
Iraq plans to more than triple crude oil exports through pipelines to 770,000 barrels per day from 220,000 bpd within two and a half months, a government statement 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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