Middle East Crude-Oman, Dubai premiums fall on lower offers to attract demand
SINGAPORE, Oct 26 (Reuters) - Spot premiums for Middle East crude benchmarks Oman and Dubai eased on Monday, down from a one-week high reached in the previous week as the market focused on ample supplies.
Oil prices fell on Monday after surging last week to near six-month highs, amid hopes of easing hostilities between the United States and Iran, although persistent attacks on key producer Saudi Arabia kept investors wary. O/R
October has been the worst month for attacks on commercial shipping in the Strait of Hormuz and nearby waterways, according to data compiled by a Washington-based think tank that has tracked maritime security incidents worldwide since 2017.
That said, flows via the key waterway continued and traders kept offering crude to Asian buyers at lower prices to attract demand.
Indian Oil Corp, the country's largest refiner by capacity, has bought 3 million barrels of Iraqi crude for December delivery to Indian ports via a tender, trade sources said.
Prices for Basrah Heavy and Basrah Medium grades it purchased on delivered at place basis were at discounts below November Dubai quotes.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps fell $1.38 to $6.85 a barrel.
Vitol, Mitsui and Unipec will each deliver a December-loading Oman crude cargo to Trafigura following the deals.
BP will deliver a December-loading Murban crude cargo to Trafigura following the deals.
SELLER-BUYER | PRICE ($/BBL) |
MITSUI-TRAFIGURA* | 116.00 |
BP-TRAFIGURA* | 116.00 |
MITSUI-TRAFIGURA* | 115.90 |
MERCURIA-TRAFIGURA* | 116.00 |
UNIPEC-TRAFIGURA* | 115.90 |
MERCURIA-TRAFIGURA* | 115.80 |
VITOL-TRAFIGURA* | 115.80 |
UNIPEC-TRAFIGURA* | 115.80 |
VITOL-TRAFIGURA* | 115.80 |
VITOL-TRAFIGURA* | 115.80 |
BP-TRAFIGURA* | 115.80 |
UNIPEC-BP* | 115.00 |
UNIPEC-TRAFIGURA* | 115.80 |
VITOL-TRAFIGURA* | 115.80 |
BP-TRAFIGURA* | 115.80 |
VITOL-TRAFIGURA* | 115.80 |
GLENCORE-TRAFIGURA* | 115.80 |
VITOL-TRAFIGURA* | 115.80 |
GLENCORE-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
MITSUI-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
UNIPEC-BP* | 114.60 |
MERCURIA-TRAFIGURA* | 115.70 |
GUNVOR*-TRAFIGURA | 115.70 |
GUNVOR-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
UNIPEC-EXXONMOBIL* | 114.50 |
UNIPEC-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
UNIPEC-PHILLIPS | 114.00 |
VITOL-TRAFIGURA* | 115.70 |
BP-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
BP-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
MITSUI*-TRAFIGURA | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
GLENCORE-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
MITSUI-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
MERCURIA-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
BP-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
BP-TRAFIGURA* | 115.70 |
GLENCORE*-TRAFIGURA | 115.70 |
MITSUI*-TRAFIGURA | 115.70 |
GLENCORE*-TRAFIGURA | 115.70 |
MERCURIA*-TRAFIGURA | 115.70 |
BP-TRAFIGURA* | 115.70 |
MERCURIA*-TRAFIGURA | 115.70 |
GLENCORE*-TRAFIGURA | 115.70 |
MERCURIA*-TRAFIGURA | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
BP*-TRAFIGURA | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
BP-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
BP*-TRAFIGURA | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
BP*-TRAFIGURA | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
BP*-TRAFIGURA | 115.70 |
MITSUI*-TRAFIGURA | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
BP*-TRAFIGURA | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
UNIPEC-TRAFIGURA* | 115.70 |
VITOL-TRAFIGURA* | 115.70 |
GLENCORE*-TRAFIGURA | 115.71 |
GLENCORE-TRAFIGURA* | 115.74 |
GUNVOR*-TRAFIGURA | 115.75 |
UNIPEC-TRAFIGURA* | 115.74 |
VITOL-TRAFIGURA* | 115.74 |
UNIPEC-TRAFIGURA* | 115.74 |
MERCURIA-TRAFIGURA* | 115.74 |
VITOL-TRAFIGURA* | 115.74 |
UNIPEC-TRAFIGURA* | 115.74 |
UNIPEC-TRAFIGURA* | 115.74 |
VITOL-TRAFIGURA* | 115.74 |
PRICES ($/BBL)
CURRENT | PREV SESSION | |
GME OMAN | 115.11 | 116.77 |
GME OMAN DIFF TO DUBAI | 6.22 | 8.10 |
CASH DUBAI | 115/74 | 116.90 |
NEWS
The head of the International Energy Agency said on Monday that he does not expect energy markets in 2027 to return to where they were before the Iran war, which began in late February.
Saudi Arabia plans to store crude oil at Singapore's Jurong Rock Caverns from the second half of 2027 to strengthen supply security in the region, energy ministers from both countries said on Monday.
An oil spill from a damaged tanker off the coast of the United Arab Emirates has widened, satellite images showed, triggering more beach closures and raising environmental concerns.
Indonesia's energy minister Bahlil Lahadalia said on Monday that he will travel abroad starting from this week, including to China and India, in a bid to secure more gasoline supplies.
For crude prices, oil product cracks and refining margins, please click on the RICs below.
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GME Oman | |
Brent/Dubai EFS | |
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Gasoil crack | |
Naphtha crack |
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Gasoline crack | |
Complex refining margins |