Middle East Crude-Oman, Dubai premiums rise slightly amid thin trading

SINGAPORE, Oct 1 (Reuters) - Spot premiums for Middle East crude benchmarks Oman and Dubai ticked up slightly on Thursday, but trade remained light as traders assessed market supply and demand.

Chinese refiners have suspended exports of oil products to regions beyond Hong Kong and Macau until further notice from Beijing, four people briefed on the matter said on Thursday, a move that will further crimp war-constrained fuel markets.

Oil prices rose around 2% on Thursday.

The lack of active trading also came as China started a week-long holiday on Thursday.

SPOT TENDER

Indian Oil Corp IOC.NS, the country's largest refiner, has bought 2 million barrels of Iraq's Basrah Medium oil for October 22-31 loading from trader Vitol, two sources said.

The state-run refiner has bought oil at a discount of $32 per barrel to Dubai prices on free on board basis for loading from Basrah terminal in Iraq, sources said.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 13 cents to $13.02 a barrel.

For this month, Unipec sold 16 cargoes or 8 million barrels of Oman and Murban crude; while TotalEnergies was one of the main buyers.

PRICES ($/BBL)

NEWS

The Trump administration has told Germany and France to draw down emergency diesel inventories to help to ease global fuel prices or face a potential US diesel export ban, said three people close to the discussions.

Fuel oil supplies at Fujairah in the United Arab Emirates have risen in recent months allowing it to resume ship refuelling operations and boost exports to Asia, according to industry sources and shipping data.

US President Donald Trump unveiled plans on Wednesday for South Korea to invest some $200 billion in US projects, but Seoul quickly suggested one key element, a $54 billion pipeline for an LNG project in Alaska, was not yet set in stone.

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