CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Middle East Crude-Dubai, Oman premiums fall to near four-month low

By Reuters News

SINGAPORE, Nov 12 (Reuters) - Spot premiums for Middle East crude benchmarks Oman and Dubai fell on Thursday, hitting the lowest in nearly four months, as oversupply concerns grew after data pointed to recovered output in the region.

OPEC+ crude production rose in October, driven by higher Saudi Arabian output despite ongoing shipping disruptions through the Strait of Hormuz.

Meanwhile, lower freight rates made oil elsewhere cheaper and diverted some demand.

Chinese independent refiners have snapped up millions of barrels of Brazilian crude in recent deals, traders said, as lower freight rates improved economics and refiners sought to utilize their annual import quotas before the year-end.


SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 48 cents to 8 cents a barrel.

SELLER-BUYER

PRICE ($/BBL)

MERCURIA-VITOL

90.10

TRAFIGURA-CENTALION

90.10

MERCURIA-BP

90.10

TRAFIGURA-CENTALION

90.10

MERCURIA-BP

90.10

TRAFIGURA-SHENGHONG

90.10

MERCURIA-BP

90.10

MERCURIA-PHILLIPS 66

90.10

TRAFIGURA-CENTALION

90.10

MERCURIA-VITOL

90.10

TOTAL-BP

90.20

MERCURIA-EQUINOR

90.10

MERCURIA-PETROCHINA

90.10

MERCURIA-EQUINOR

90.10


PRICES ($/BBL)


CURRENT

PREV SESSION

GME OMAN

90.27

89.23

GME OMAN DIFF TO DUBAI

0.25

0.78

CASH DUBAI

90.10

89.01


NEWS

Asian buyers have been snapping up Atlantic Basin crude at lower prices after tanker freight rates on cargoes from Africa and Brazil slumped from all-time highs, traders, shipbrokers and analysts said.

Norwegian oil and gas companies have cut their projected investments for 2026 while raising the outlook for 2027 compared with estimates made three months ago, an industry survey by the statistics office (SSB) showed on Thursday.


For crude prices, oil product cracks and refining margins, please click on the RICs below.

Brent

Dubai

GME Oman

Brent/Dubai EFS



PRODUCT CRACKS


Fuel oil crack

Gasoil crack

Naphtha crack

Gasoline crack

Complex refining margins

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.