Middle East Crude-Oman, Dubai differentials flipped into discount
SINGAPORE, July 16 (Reuters) - Middle East crude benchmarks Oman and Dubai differentials fell on Thursday, flipping into discounts again as traders assessed the supply and demand outlook.
The drops followed an ease in oil futures prices. O/R
Still, supply from the Middle East remained in question, with the latest news that oil loading in Iraq has been stopped due to an incident.
Traders are also watching for the result of ADNOC's tender to gauge supply outlook. O/TEND
The UAE oil giant issued its sixth tender to sell crude since the beginning of June, which was valid until today.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps fell $2.37 to a discount of 39 cents a barrel.
SELLER-BUYER |
PRICE ($/BBL) |
MERCURIA-TRAFIGURA |
77.00 |
VITOL-MITSUI |
76.60 |
PRICES ($/BBL)
CURRENT |
PREV SESSION |
|
GME OMAN |
76.36 |
80.14 |
GME OMAN DIFF TO DUBAI |
-0.63 |
2.62 |
CASH DUBAI |
76.60 |
79.50 |
NEWS
French oil major TotalEnergies TTEF.PA said higher energy prices due to the war in Iran are expected to lift its second quarter profits, though liquefied natural gas income will be sharply down due to weak trading on declining European demand, according to an earnings snapshot published on Thursday.
China caught the oil industry by surprise during the Iran war, pulling powerful levers to shield itself from the biggest energy shock in decades. In the process, it established itself as a new force in global energy markets – an independent, opaque, massive power.
Iran said on Thursday that the Strait of Hormuz was an inviolable "red line", warning that if U.S. President Donald Trump carried out his threat to attack Iran's infrastructure, it would strike all infrastructure across the Gulf region.
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