Middle East Crude-Benchmarks rebound on lack of progress in US-Iran talks

SINGAPORE, Sept 24 (Reuters) - Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban rebounded as traders saw little meaningful progress from US-Iran talks and feared for a prolonged conflict.

Iran and the US remain divided over how to end their conflict, but diplomacy must continue, a senior Iranian official told Reuters on Wednesday, after Iran's president told the UN General Assembly that Tehran would never surrender to US pressure.

The official said Tehran was reviewing Washington's response to its peace proposals, which prioritise lifting a US naval blockade on Iranian ports and reopening the Strait of Hormuz.

Oil prices rose more than 2% on Thursday. O/R

SPOT TENDER

Aramco Trading issued a tender offering Khafji crude to Asia for October-early November delivery, a document showed on Thursday. The tender closed on Thursday.

The Abu Dhabi National Oil Company is offering spot crude in a tender, its 10th since the start of June, as the UAE state oil company works to move oil from inside the Strait of Hormuz, a tender document showed on Wednesday. Bids are due by September 28 and will remain valid until September 30.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose $2.30 to $20.77 a barrel.

Unipec will deliver four November-loading Oman crude cargoes following the deals, each to TotalEnergies, ExxonMobil, Trafigura and Shell.

PRICES ($/BBL)

NEWS

China will raise retail gasoline and diesel prices following gains in global oil prices but cap the increases to cushion the impact on the domestic market, the National Development and Reform Commission said on Thursday.

US Energy Secretary Chris Wright on Wednesday said a US ban on diesel exports would not work and could push up gasoline and jet fuel prices, a stance at odds with President Donald Trump, who is backing the idea.

Oil product inventories in Asia's fuel trading hub of Singapore fell to a three-week low, government data showed on Thursday, with stocks retreating across the barrel week-on-week.

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