Middle East Crude-Benchmarks tick up after Qatar raises Feb-loading price
SINGAPORE, Dec 18 (Reuters) -The Middle East crude benchmark spot premiums of Oman, Dubai and Murban moved up on Wednesday after QatarEnergy raised the term price for al-Shaheen crude oil loading in February.
Qatar set the price at a premium of $1.05 per barrel above Dubai quotes, up 32 cents per barrel from for January-loading cargoes, according to trade sources on Wednesday.
Qatar sold two al-Shaheen cargoes to Glencore GLEN.L and one cargo to Totsa at a premium of $0.9-1.05 a barrel above Dubai prices, the sources said.
Qatar has also awarded a Qatar Marine crude cargo at a premium of $0.3 a barrel above Dubai prices and a Qatar Land crude cargo at a premium of $0.1 a barrel above Dubai prices to PTT, according to the sources.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 5 cents to $0.94 a barrel.
Reliance will deliver a February-loading Upper Zakum crude cargo to Total following the deals.
Vitol will deliver a February-loading Oman crude cargo to Total following the deals.
SELLER-BUYER | PRICE ($/BBL) |
EXXONMOBIL-TOTAL | 73.60 |
VITOL-TOTAL | 73.60 |
PETROCHINA-GLENCORE | 73.56 |
VITOL-TOTAL | 73.60 |
EXXONMOBIL-MITSUI | 73.63 |
VITOL-TOTAL | 73.60 |
EXXONMOBIL-GLENCORE | 73.56 |
VITOL-TOTAL | 73.60 |
EXXONMOBIL-HENGLI | 73.60 |
PETROCHINA-GLENCORE | 73.56 |
VITOL-TOTAL | 73.60 |
PHILLIPS 66-TOTAL | 73.60 |
PETROCHINA-HENGLI | 73.60 |
VITOL-TOTAL | 73.60 |
PETROCHINA-MITSUI | 73.60 |
EQUINOR-TOTAL | 73.60 |
VITOL-TOTAL | 73.60 |
EXXONMOBIL-HENGLI | 73.60 |
PETROCHINA-TOTAL | 73.60 |
RELIANCE-TOTAL | 73.60 |
VITOL-GLENCORE | 73.56 |
PETROCHINA-TOTAL | 73.60 |
EXXONMOBIL-TOTAL | 73.60 |
VITOL-TOTAL | 73.60 |
PETROCHINA-HENGLI | 73.60 |
PETROCHINA-TOTAL | 73.60 |
RELIANCE-TOTAL | 73.60 |
EXXONMOBIL-MITSUI | 73.58 |
EXXONMOBIL-TOTAL | 73.60 |
EQUINOR-TOTAL | 73.61 |
VITOL-TOTAL | 73.60 |
VITOL-TOTAL | 73.60 |
EXXONMOBIL-HENGLI | 73.60 |
RELIANCE-TOTAL | 73.61 |
EQUINOR-TOTAL | 73.60 |
EXXONMOBIL-TOTAL | 73.60 |
VITOL-MITSUI | 73.58 |
PETROCHINA-TOTAL | 73.60 |
EXXONMOBIL-TOTAL | 73.60 |
VITOL-GLENCORE | 73.56 |
EQUINOR-TOTAL | 73.60 |
PETROCHINA-TOTAL | 73.60 |
PETROCHINA-HENGLI | 73.60 |
EXXONMOBIL-TOTAL | 73.60 |
VITOL-TOTAL | 73.60 |
EQUINOR-TOTAL | 73.60 |
EXXONMOBIL-TOTAL | 73.60 |
PETROCHINA-TOTAL | 73.60 |
VITOL-TOTAL | 73.60 |
PETROCHINA-TOTAL | 73.61 |
EXXONMOBIL-TOTAL | 73.60 |
EQUINOR-TOTAL | 73.60 |
RELIANCE-MITSUI | 73.58 |
EXXONMOBIL-TOTAL | 73.60 |
VITOL-TOTAL | 73.60 |
PETROCHINA-TOTAL | 73.60 |
RELIANCE-TOTAL | 73.60 |
PETROCHINA-PHILLIPS 66 | 73.57 |
PETROCHINA-TOTAL | 73.61 |
PRICES ($/BBL)
CURRENT | PREV SESSION | |
GME OMAN | 73.57 | 73.54 |
GME OMAN DIFF TO DUBAI | 0.91 | 0.88 |
CASH DUBAI | 73.60 | 73.55 |
NEWS
Saudi Arabia's crude oil exports in October rose to their highest level in four months, data from the Joint Organizations Data Initiative (JODI) showed on Wednesday.
OPEC+ is wary of a renewed rise in U.S. oil output when Donald Trump returns to the White House, delegates from the group said, because more U.S. oil would further erode OPEC+ market share and hamper the producer group's efforts to support prices.
Britain sanctioned 20 ships on Tuesday for allegedly carrying illicit Russian oil, its latest measures targeting Russia's so-called shadow fleet in response to the 2022 invasion of Ukraine.
China's gasoline exports rebounded in November to the highest level since August 2023, customs data showed on Wednesday, as exporters rushed to sell products before a cut in tax rebates came into effect this month.
Iran's Revolutionary Guards have tightened their grip on the country's oil industry and control up to half the exports that generate most of Tehran's revenue and fund its proxies across the Middle East, according to Western officials, security sources and Iranian insiders.
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 Tasim Zahid
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
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.