Middle East Crude-Benchmarks fall as oil market set for weekly loss

Reuters

Middle East Crude-Benchmarks fall as oil market set for weekly loss

Nov 29, 2024 at 10:57 am GMT

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SINGAPORE, Nov 29 (Reuters) -Middle East crude benchmark spot premiums for Oman, Dubai and Murban all slid on Friday as oil prices were poised for a weekly loss.

Oil was heading for a weekly drop of more than 3%, pressured by easing concerns over supply risks from the Israel-Hezbollah conflict and the prospect of more ample supplies in 2025, even as OPEC+ is expected to extend output cuts. O/R

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 34 cents to $0.55 a barrel.

Vitol will declare a January-delivery Oman crude cargo to TotalEnergies following the deals.

For this month, Total bought 31 cargoes, or 15.5 million barrels.

SELLER-BUYER	PRICE ($/BBL)
VITOL-GLENCORE	72.25
VITOL-SHENGHONG	72.25
VITOL-HENGLI	72.25
VITOL-EQUINOR	72.25
VITOL-TOTAL	72.20
VITOL-HENGLI	72.25
VITOL-SHENGHONG	72.25
VITOL-EQUINOR	72.25
VITOL-TOTAL	72.30
VITOL-TOTAL	72.30
VITOL-TOTAL	72.30
VITOL-TOTAL	72.30
VITOL-GLENCORE	72.30
VITOL-HENGLI	72.30
VITOL-GLENCORE	72.30
VITOL-TOTAL	72.40
VITOL-GLENCORE	72.30
PTT-TOTAL	72.40
VITOL-HENGLI	72.40
VITOL-PETROCHINA	72.30
VITOL-HENGLI	72.30
VITOL-GLENCORE	72.30
VITOL-TOTAL	72.35
PTT-TOTAL	72.35
VITOL-PETROCHINA	72.30
VITOL-HENGLI	72.30
RELIANCE-EQUINOR	72.35
VITOL-TOTAL	72.35
PTT-TOTAL	72.35
VITOL-HENGLI	72.35
RELIANCE-TOTAL	72.35
PTT-EQUINOR	72.35
UNIPEC-TOTAL	72.40
RELIANCE-HENGLI	72.35
PTT-TOTAL	72.35
VITOL-PETROCHINA	72.32
VITOL-TOTAL	72.35
UNIPEC-EQUINOR	72.30
PTT-EQUINOR	72.35
UNIPEC-EQUINOR	72.40
RELIANCE-HENGLI	72.35
PTT-TOTAL	72.35
RELIANCE-HENGLI	72.35
VITOL-TOTAL	72.35
PTT-EQUINOR	72.35
RELIANCE-TOTAL	72.35
VITOL-EQUINOR	72.35
PTT-TOTAL	72.35
VITOL-PETROCHINA	72.35
RELIANCE-GLENCORE	72.35
VITOL-EQUINOR	72.35
PTT-PETROCHINA	72.35
VITOL-HENGLI	72.34
VITOL-EQUINOR	72.35
RELIANCE-EQUINOR	72.35
PTT-EQUINOR	72.35
VITOL-EQUINOR	72.35
UNIPEC-PETROCHINA	72.36
VITOL-HENGLI	72.34
RELIANCE-EQUINOR	72.35
VITOL-PETROCHINA	72.35

PRICES ($/BBL)

	CURRENT	PREV SESSION
GME OMAN	71.16	70.67
GME OMAN DIFF TO DUBAI	-0.64	-0.29
CASH DUBAI	72.35	71.85

NEWS

Ottawa must ensure the Trump administration understands how interrelated energy markets are in the United States and Canada, a Canadian government minister said on Thursday, commenting on President-elect Donald Trump's vow to impose a 25% tariff on imports from the country.

Ukraine's military said on Friday it had struck the Atlas oil depot in Russia's Rostov region overnight, causing a fire.

Mexican President Claudia Sheinbaum said on Thursday that the debt burden accumulated by state energy company Pemex with suppliers would be reviewed and various payment mechanisms are being studied and refined.

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

Reporting by Siyi Liu in Singapore; Editing by Shreya Biswas

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

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